Net Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Net Income per Common Share

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

TABLE 66: NET INCOME PER COMMON SHARE

	THREE MONTHS ENDED JUNE 30,				SIX MONTHS ENDED JUNE 30,
($ In Millions Except Per Common Share Information)	2023		2022		2023		2022
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	207,638,671		208,383,991		207,911,242		208,205,469
Net Income	$	331.8	$	396.2	$	666.4	$	785.5
Less: Dividends on Preferred Stock	4.7		4.7		20.9		20.9
Net Income Applicable to Common Stock	327.1		391.5		645.5		764.6
Less: Earnings Allocated to Participating Securities	3.4		3.2		6.6		6.3
Earnings Allocated to Common Shares Outstanding	323.7		388.3		638.9		758.3
Basic Net Income Per Common Share	$	1.56	$	1.86	$	3.07	$	3.64
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	207,638,671		208,383,991		207,911,242		208,205,469
Plus: Dilutive Effect of Share-based Compensation	177,344		494,359		359,435		638,465
Average Common and Potential Common Shares	207,816,015		208,878,350		208,270,677		208,843,934
Earnings Allocated to Common and Potential Common Shares	$	323.6	$	388.3	$	638.8	$	758.3
Diluted Net Income Per Common Share	1.56		1.86		3.07		3.63

Note:    For the three and six months ended June 30, 2023 and 2022, there were no common stock equivalents excluded in the computation of diluted net income per share.