Net Income Per Common Share Computations (Tables)

6 Months Ended

Jun. 30, 2020

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

TABLE 65: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED JUNE 30,						SIX MONTHS ENDED JUNE 30,
($ In Millions Except Per Common Share Information)	2020		2019		2020		2019
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	208,068,635		216,139,033		208,474,883		217,182,123
Net Income	$	313.3	$	389.4	$	673.9	$	736.5
Less: Dividends on Preferred Stock	4.8		5.9		35.3		23.2
Net Income Applicable to Common Stock	308.5		383.5		638.6		713.3
Less: Earnings Allocated to Participating Securities	3.4		3.8		7.3		8.1
Earnings Allocated to Common Shares Outstanding	305.1		379.7		631.3		705.2
Basic Net Income Per Common Share	$	1.47	$	1.76	$	3.03	$	3.25
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	208,068,635		216,139,033		208,474,883		217,182,123
Plus: Dilutive Effect of Share-based Compensation	499,722		1,030,506		717,707		1,031,952
Average Common and Potential Common Shares	208,568,357		217,169,539		209,192,590		218,214,075
Earnings Allocated to Common and Potential Common Shares	$	305.2	$	379.8	$	631.3	$	705.2
Diluted Net Income Per Common Share	1.46		1.75		3.02		3.23

Note: For the three and six months ended June 30, 2020 and 2019, there were no common stock equivalents excluded in the computation of diluted net income per share.