Net Income Per Common Share

3 Months Ended

Mar. 31, 2024

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

TABLE 59: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED MARCH 31,
($ In Millions Except Per Common Share Information)	2024		2023
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	204,628,796		208,186,841
Net Income	$	214.7	$	334.6
Less: Dividends on Preferred Stock	16.2		16.2
Net Income Applicable to Common Stock	198.5		318.4
Less: Earnings Allocated to Participating Securities	2.4		3.2
Earnings Allocated to Common Shares Outstanding	196.1		315.2
Basic Net Income Per Common Share	$	0.96	$	1.51
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	204,628,796		208,186,841
Plus: Dilutive Effect of Share-based Compensation	506,049		543,548
Average Common and Potential Common Shares	205,134,845		208,730,389
Earnings Allocated to Common and Potential Common Shares	$	196.1	$	315.2
Diluted Net Income Per Common Share	0.96		1.51

Note: For the three months ended March 31, 2024, there were de minimis common stock equivalents excluded from the computation of diluted net income per common share because their inclusion would have been antidilutive. For the three months ended March 31, 2023, there were no common stock equivalents excluded in the computation of diluted net income per share.