Net Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

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

TABLE 66: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED SEPTEMBER 30,				NINE MONTHS ENDED SEPTEMBER 30,
($ In Millions Except Per Common Share Information)	2021		2020		2021		2020
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	208,116,009		208,106,190		208,199,352		208,351,088
Net Income	$	395.7	$	294.5	$	1,138.9	$	968.4
Less: Dividends on Preferred Stock	16.2		16.2		37.1		51.5
Net Income Applicable to Common Stock	379.5		278.3		1,101.8		916.9
Less: Earnings Allocated to Participating Securities	3.0		3.3		9.9		10.6
Earnings Allocated to Common Shares Outstanding	376.5		275.0		1,091.9		906.3
Basic Net Income Per Common Share	$	1.81	$	1.32	$	5.24	$	4.35
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	208,116,009		208,106,190		208,199,352		208,351,088
Plus: Dilutive Effect of Share-based Compensation	807,297		582,304		803,178		672,243
Average Common and Potential Common Shares	208,923,306		208,688,494		209,002,530		209,023,331
Earnings Allocated to Common and Potential Common Shares	$	376.5	$	275.0	$	1,091.9	$	906.3
Diluted Net Income Per Common Share	1.80		1.32		5.22		4.34

Note: For the three and nine months ended September 30, 2021 and 2020, there were no common stock equivalents excluded in the computation of diluted net income per share.