Stockholders' Equity and Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity and Earnings Per Common Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Net income per common share is determined as follows:

	Three Months Ended June 30				Six Months Ended June 30
	2023		2022		2023		2022
	(in millions of dollars, except share data)
Numerator
Net Income	$	392.9	$	367.3	$	751.2	$	607.7
Denominator (000s)
Weighted Average Common Shares - Basic	197,180.4		201,151.7		197,641.3		201,888.8
Dilution for Assumed Exercises of Nonvested Stock Awards	956.1		1,280.0		1,182.5		1,077.7
Weighted Average Common Shares - Assuming Dilution	198,136.5		202,431.7		198,823.8		202,966.5
Net Income Per Common Share
Basic	$	1.99	$	1.83	$	3.80	$	3.01
Assuming Dilution	$	1.98	$	1.81	$	3.78	$	2.99

Treasury Stock Transactions

Common stock repurchases, which are accounted for using the cost method and classified as treasury stock until otherwise retired, were as follows:

	Three Months Ended June 30				Six Months Ended June 30
	2023		2022		2023		2022
	(in millions)
Shares Repurchased	1.1		1.8		2.4		3.1
Cost of Shares Repurchased1	$	47.0	$	57.4	$	100.6	$	94.9

1Includes $0.1 million of commissions for the three and six months ended June 30, 2023 and $0.1 million of commission for the three and six months ended June 30, 2022. There was $0.4 million and $0.5 million of excise tax for the three and six months ended June 30, 2023, respectively. There were no excise taxes during the three and six months ended June 30, 2022.