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Net Income Per Common Share (Tables)
3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Net Income Per Common Share on Basic and Diluted Basis

The following table presents the calculation of net income per common share on a basic and diluted basis (all balances have been adjusted to reflect the 10% stock dividend):

 

 

 

For the Three Months Ended March 31,

 

(in millions, except number of shares and per share amounts)

 

2015

 

 

2014

 

Net income

 

$

58.8

 

 

$

40.2

 

Weighted average common shares outstanding - basic

 

 

28,129,692

 

 

 

29,165,911

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Equity compensation awards

 

 

547,687

 

 

 

497,179

 

Weighted average common shares outstanding - diluted

 

 

28,677,379

 

 

 

29,663,090

 

Net income per common share:

 

 

 

 

 

 

 

 

Basic

 

$

2.09

 

 

$

1.38

 

Diluted

 

$

2.05

 

 

$

1.36