Net Income per Common Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Income per Common Share

Net Income per Common Share

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

TABLE 83: NET INCOME PER COMMON SHARE

	FOR THE YEAR ENDED DECEMBER 31,
($ In Millions Except Per Common Share Information)	2024		2023		2022
BASIC NET INCOME PER COMMON SHARE
Average Number of Common Shares Outstanding	201,263,646		207,248,094		208,309,331
Net Income	$	2,031.1	$	1,107.3	$	1,336.0
Less: Dividends on Preferred Stock	41.8		41.8		41.8
Net Income Applicable to Common Stock	1,989.3		1,065.5		1,294.2
Less: Earnings Allocated to Participating Securities	16.9		11.6		11.8
Earnings Allocated to Common Shares Outstanding	$	1,972.4	$	1,053.9	$	1,282.4
Basic Net Income Per Common Share	9.80		5.09		6.16
DILUTED NET INCOME PER COMMON SHARE
Average Number of Common Shares Outstanding	201,263,646		207,248,094		208,309,331
Plus Dilutive Effect of Share-based Compensation	606,459		315,652		557,933
Average Common and Potential Common Shares	201,870,105		207,563,746		208,867,264
Earnings Allocated to Common and Potential Common Shares	$	1,972.3	$	1,053.9	$	1,282.4
Diluted Net Income Per Common Share	9.77		5.08		6.14

Note: Common stock equivalents of 0.1 million for the year ended December 31, 2024, were not included in the computation of diluted net income per common share because their inclusion would have been antidilutive. For the years ended December 31, 2023 and 2022, respectively, there were 0.1 million and de minimis common stock equivalents excluded in the computation of diluted net income per share.