Net Income Per Common Share Computations (Tables)

9 Months Ended

Sep. 30, 2019

The computations of net income per common share are presented in the following table.

Table 62: Net Income per Common Share



	Three Months Ended September 30,				Nine Months Ended September 30,
($ In Millions Except Per Common Share Information)	2019		2018		2019		2018
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	213,176,809		222,442,797		215,832,347		224,098,656
Net Income	$	384.6	$	374.5	$	1,121.1	$	1,146.5
Less: Dividends on Preferred Stock	17.4		17.3		40.6		40.5
Net Income Applicable to Common Stock	367.2		357.2		1,080.5		1,106.0
Less: Earnings Allocated to Participating Securities	4.5		4.1		12.6		14.3
Earnings Allocated to Common Shares Outstanding	362.7		353.1		1,067.9		1,091.7
Basic Net Income Per Common Share	$	1.70	$	1.59	$	4.95	$	4.87
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	213,176,809		222,442,797		215,832,347		224,098,656
Plus: Dilutive Effect of Share-based Compensation	1,029,767		1,417,217		1,031,216		1,395,979
Average Common and Potential Common Shares	214,206,576		223,860,014		216,863,563		225,494,635
Earnings Allocated to Common and Potential Common Shares	$	362.7	$	353.1	$	1,067.9	$	1,091.8
Diluted Net Income Per Common Share	1.69		1.58		4.92		4.84

Note: For the three and nine months ended September 30, 2019, there were no common stock equivalents excluded in the computation of diluted net income per share. There were also no common stock equivalents excluded in the computation of diluted net income per share for the three and nine months ended September 30, 2018.