v3.24.3
Net Income (Loss) Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Components and Calculation of Basic and Diluted Net Income (Loss) Per Share
The following table presents the components and calculations of basic and diluted net income (loss) per common share (in millions, except per share amounts; certain amounts may not recalculate due to rounding):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Numerator:
Net income (loss)$145.3 $161.3 $278.1 $339.9 
Dividends on Preferred Stock— (1.9)— (13.9)
Undistributed income allocated to participating securities— (7.6)— (34.3)
Repurchase Premium— (414.6)— (414.6)
Net income (loss) attributable to common stockholders – Basic and Diluted$145.3 $(262.8)$278.1 $(122.9)
Denominator:
Weighted-average common shares outstanding – Basic62.0 63.2 62.8 63.7 
Effect of common share equivalents1.1 — 1.1 — 
Weighted-average common shares outstanding – Diluted63.1 63.2 63.9 63.7 
Net income (loss) per common share:
Basic$2.34 $(4.16)$4.43 $(1.93)
Diluted$2.30 $(4.16)$4.35 $(1.93)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table includes the number of shares that may be dilutive common shares in the future (except for the Preferred Stock, which was redeemed in July 2023 and therefore has no dilutive impact in the future as of September 30, 2023). These shares were not
included in the computation of diluted net income (loss) per common share because the effect was either anti-dilutive or the requisite performance conditions were not met (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Stock options0.1 0.7 0.1 0.3 
Restricted stock units0.0 1.1 0.0 0.4 
Preferred Stock— 3.2 — 7.5 
Equity forward contract0.6 — 0.5 — 
Employee Stock Purchase Plan0.0 — 0.0 —