Earnings Per Share

The Company uses the two class method to calculate earnings per share (EPS). The two class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common shareholders. Under the two class method, earnings for a period are allocated between common shareholders and participating security holders based on their respective rights to receive dividends as if all undistributed book earnings for the period were distributed. The amount of net income attributable to participating securities is immaterial.

Basic EPS is computed by dividing net income attributable to only the common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes the impact of stock options and other equity based instruments to the extent the effect is dilutive.

The following table illustrates the basic and dilutive EPS calculations for the three years ended December 31, 2017:



	Year Ended December 31,
(In millions, except per share data)	2017		2016		2015
Numerator:
Reported net income (Numerator for Basic and Diluted EPS)	$	216.0	$	211.6	$	197.3
Denominator:
Weighted-average common shares outstanding (Basic and Diluted EPS)	83.0		82.8		82.7

Basic and diluted earnings per share	$	2.60	$	2.55	$	2.39

For the periods presented, all equity based instruments were dilutive and immaterial.