Earnings Per Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share:

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share for Net income were as follows (in millions, except per share data):



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2015			2014			2015			2014
Net income	$	81.2		$	73.9		$	95.1		$	93.8
Add: Loss from discontinued operations	0.4			0.7			0.5			0.7
Income from continuing operations	$	81.6		$	74.6		$	95.6		$	94.5

Weighted-average shares outstanding – basic	45.0			48.8			44.9			48.9
Add: Potential effect of dilutive securities attributable to stock-based payments	0.6			0.8			0.7			0.8
Weighted-average shares outstanding – diluted	45.6			49.6			45.6			49.7

Earnings per share – Basic:
Income from continuing operations	$	1.81		$	1.53		$	2.13		$	1.93
Loss from discontinued operations	(0.01		)	(0.02		)	(0.01		)	(0.01		)
Net income	$	1.80		$	1.51		$	2.12		$	1.92

Earnings per share – Diluted:
Income from continuing operations	$	1.79		$	1.50		$	2.10		$	1.90
Loss from discontinued operations	(0.01		)	(0.01		)	(0.01		)	(0.01		)
Net income	$	1.78		$	1.49		$	2.09		$	1.89

The following stock appreciation rights were outstanding but not included in the diluted earnings per share calculation because the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data):



	For the Three Months Ended June 30,			For the Six Months Ended June 30,
	2015		2014	2015		2014
Weighted-average number of shares	0.2		0.3	0.2		0.3
Price range per share	$	92.64	$81.11 - $81.14	$	92.64	$81.11 - $81.14