Earnings Per Share

3 Months Ended

Mar. 31, 2024

The computations of basic and diluted earnings per share were as follows:


	Three Months Ended March 31,
	2024		2023
Numerator:
Net income	$	28.4	$	24.3
Denominator:
Basic - weighted average shares outstanding	18,665,570		18,449,430
Effect of dilutive securities	412,197		232,838
Diluted - weighted average shares outstanding	19,077,767		18,682,268
Basic earnings per share	$	1.52	$	1.32
Diluted earnings per share	$	1.49	$	1.30

Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 37,508 and 393,242 shares of common stock during the three months ended March 31, 2024 and 2023, respectively. These exclusions were made if the exercise prices of the options are greater than the average market price of our common stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted average shares outstanding in the options or if we have a net loss, as these effects would be anti-dilutive.