| Calculation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2024 and 2023, respectively. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (in millions, except per share data) | | 2024 | | 2023 | | 2024 | | 2023 | | Numerator: | | | | | | | | | | Net income available to common shareholders | | $ | 30.6 | | | $ | 35.6 | | | $ | 84.4 | | | $ | 211.1 | | | | | | | | | | | | Denominator: | | | | | | | | | | Weighted average common shares outstanding | | 175.2 | | | 176.9 | | | 175.6 | | | 177.7 | | | Dilutive effect of share-based awards and options outstanding | | 0.7 | | | 0.9 | | | 0.5 | | | 0.8 | | Weighted average diluted common shares outstanding (1) | | 175.9 | | | 177.7 | | | 176.1 | | | 178.5 | | | | | | | | | | | | Basic earnings per common share | | $ | 0.17 | | | $ | 0.20 | | | $ | 0.48 | | | $ | 1.19 | | | Diluted earnings per common share | | 0.17 | | | 0.20 | | | 0.48 | | | 1.18 | |
(1)Weighted average diluted common shares outstanding may not sum due to rounding.
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| Schedule of Common Shares Outstanding Roll Forward |
The following table shows changes to our Class B common shares outstanding for the three and nine months ended September 30, 2024 and 2023. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Outstanding at beginning of period | | 92,301,573 | | | 94,064,251 | | | 92,931,242 | | | 94,993,144 | | | Repurchases of common stock | | (145,896) | | | (497,435) | | | (1,289,769) | | | (1,869,474) | | | Share issuances | | — | | | 219 | | | 698,133 | | | 681,642 | | | Exercise of employee stock options | | — | | | — | | | 71,529 | | | 6,000 | | | Shares withheld for employee taxes | | — | | | — | | | (255,458) | | | (244,277) | | | Outstanding at end of period | | 92,155,677 | | | 93,567,035 | | | 92,155,677 | | | 93,567,035 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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