Net Income Per Share

12 Months Ended

Dec. 31, 2015

Note 3: Net Income Per Share

The following table reconciles net income and shares used in the calculation of basic net income per share to those used for diluted net income per share:



(in millions)	2015		2014		2013
Net income	$	95.6	$	127.1	$	112.3
Weighted average common shares outstanding	72.0		70.9		69.6
Dilutive effect of stock options, stock appreciation rights and performance share awards, based on the treasury stock method	1.8		1.9		1.7
Assumed conversion of convertible debt, based on the if-converted method	—		—		0.1
Weighted average shares assuming dilution	73.8		72.8		71.4

During 2015 and 2014, there were 0.7 million and 0.5 million shares from stock-based compensation plans not included in the computation of diluted net income per share because their impact was antidilutive. During 2013, the number of shares not included in the computation of diluted net income per share was immaterial.

In December 2015, we announced a share repurchase program authorizing the repurchase of up to 700,000shares of the Company’s common stock from time to time on the open market or in privately-negotiated transactions as permitted under the Securities Exchange Act of 1934 Rule 10b-18. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. The program commenced on January 1, 2016 and is expected to be completed by December 31, 2016. The Company’s previously-authorized share repurchase program expired on December 31, 2015.