Earnings Per Share Data

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share Data

Earnings Per Share Data

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share adjusts basic earnings per common share for the effects of potentially dilutive common shares, if the effect is not anti-dilutive. Potentially dilutive common shares include the dilutive effects of shares issuable under the stock option and performance award plans.

The following table reconciles the basic earnings per share computation to the diluted earnings per share computation (in millions, except share and per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2014		2013		2014		2013
Net income available to common stockholders for purposes of computing basic and diluted earnings per share	$	138.0	$	118.3	$	361.4	$	237.4
Weighted-average number of shares outstanding (in thousands):
Basic shares	110,182		110,003		110,141		109,956
Effect of dilution	259		370		271		361
Diluted shares	110,441		110,373		110,412		110,317
Earnings per share:
Basic earnings per share	$	1.25	$	1.08	$	3.28	$	2.16
Diluted earnings per share	$	1.25	$	1.07	$	3.27	$	2.15
Potentially dilutive shares excluded from the calculation (in thousands):
Stock options excluded as their inclusion would be anti-dilutive	—		—		76		74