The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings (loss) per share for the years ended December 31, 2025, 2024 and 2023:
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Numerator: |
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Net income (loss), basic |
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$ |
(1.2 |
) |
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$ |
1.3 |
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$ |
69.4 |
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Add convertible notes interest |
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— |
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— |
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1.0 |
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Net income (loss), diluted |
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$ |
(1.2 |
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$ |
1.3 |
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$ |
70.4 |
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Denominator: |
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Weighted average shares outstanding, basic |
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41.9 |
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43.2 |
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43.8 |
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Dilutive effect of equity-based awards |
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— |
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1.1 |
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2.1 |
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Dilutive effect of convertible notes |
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— |
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— |
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1.9 |
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Weighted average shares outstanding, diluted |
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41.9 |
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44.3 |
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47.8 |
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Basic earnings (loss) per share |
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$ |
(0.03 |
) |
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$ |
0.03 |
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$ |
1.58 |
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Diluted earnings (loss) per share |
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$ |
(0.03 |
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$ |
0.03 |
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$ |
1.47 |
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