Earnings Per Share

12 Months Ended

Dec. 31, 2020

sic 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 Income from continuing operations were as follows (in millions, except per share data):


	For the Years Ended December 31,
	2020		2019		2018
Net income	$	356.3	$	408.7	$	359.0
Add: Loss from discontinued operations	0.8		0.1		1.3
Income from continuing operations	$	357.1	$	408.8	$	360.3

Weighted-average shares outstanding – basic	38.3		39.0		40.6
Add: Potential effect of diluted securities attributable to stock-based payments	0.3		0.4		0.5
Weighted-average shares outstanding – diluted	38.6		39.4		41.1

Earnings per share - Basic:
Income from continuing operations	$	9.32	$	10.49	$	8.87
Loss from discontinued operations	(0.02)		—		(0.03)
Net income	$	9.30	$	10.49	$	8.84

Earnings per share - Diluted:
Income from continuing operations	$	9.26	$	10.38	$	8.77
Loss from discontinued operations	(0.02)		—		(0.03)
Net income	$	9.24	$	10.38	$	8.74

An insignificant number of stock appreciation rights and Restricted Stock Units were outstanding but not included in the diluted earnings per share calculation because the assumed exercise of such rights would have been anti-dilutive.