Net Income Per Common Share

12 Months Ended

Dec. 31, 2014

Net Income Per Common Share [Abstract]

Net Income Per Common Share

2. NET INCOME PER COMMON SHARE

Net income per basic common share was calculated by dividing net income by the weighted-average common shares outstanding. Net income per diluted common share was calculated using the treasury stock method and reflects the dilutive effects of stock awardsand potential exercises of dilutive outstanding stock options. Diluted weighted-average common shares outstanding does not include stock options with an option exercise price greater than the average market price because they are antidilutive and inclusion would increase net income per diluted common share.

The following table sets forth the calculation of net income per basic and diluted weighted-average common shares outstanding:

		Years ended
		December 31,
(Dollars in millions—except per share data)		2014			2013	2012
Net income		$	219.3	$	228.5	$	138.5
Basic weighted-average common shares outstanding			43,018,215		44,243,364		44,283,771
Stock options			342,791		194,978		74,232
Stock awards			94,130		89,063		1,888
Diluted weighted-average common shares outstanding			43,455,136		44,527,405		44,359,891
Net income per common share:
	Basic	$	5.10	$	5.16	$	3.13
	Diluted		5.05		5.13		3.12
Antidilutive shares not included in net income per diluted common
	share calculation		50,236		292,750		2,220,045