Earnings Per Common Share

12 Months Ended

Dec. 31, 2015

Earnings Per Common Share

Earnings Per Common Share

18. Earnings Per Common Share

        The computations of the basic and diluted per share amounts were as follows:

	For the year ended December 31,
	2015		2014		2013
	(in millions, except per share data)
Net income	$	1,253.2	$	1,176.4	$	936.1
Subtract:
Net income attributable to noncontrolling interest		19.2		32.3		23.4
Preferred stock dividends		16.5		33.0		33.0
Excess of redemption value over carrying value of preferred shares redeemed		8.2		—		—
Adjustments to redemption amounts of redeemable noncontrolling interests (1)		—		19.7		—
Total	$	1,209.3	$	1,091.4	$	879.7
Weighted-average shares outstanding:
Basic		294.4		294.7		294.6
Dilutive effects:
Stock options		1.5		1.8		1.6
Restricted stock units		1.7		1.8		1.7
Performance share awards		0.4		0.4		0.3
Diluted		298.0		298.7		298.2
Net income per common share:
Basic	$	4.11	$	3.70	$	2.99
Diluted	$	4.06	$	3.65	$	2.95

(1) During the third quarter of 2013, we identified a classification error of certain of our noncontrolling interests. See related discussion in Note 13, Stockholders' Equity — Noncontrolling Interest. The correction of the classification error in the third quarter of 2013 did not significantly impact earnings per share.

        The calculation of diluted earnings per share for the years ended December 31, 2015, 2014 and 2013, excludes the incremental effect related to certain outstanding stock-based compensation grants due to their anti-dilutive effect.