Net Income Per Common Share

3 Months Ended

Mar. 31, 2025

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

TABLE 58: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED MARCH 31,
($ In Millions Except Per Common Share Information)		2025		2024
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding		195,192,789		204,628,796
Net Income		$	392.0	$	214.7
Less: Dividends on Preferred Stock		16.2		16.2
Net Income Applicable to Common Stock		375.8		198.5
Less: Earnings Allocated to Participating Securities		3.6		2.4
Earnings Allocated to Common Shares Outstanding		372.2		196.1
Basic Net Income Per Common Share		$	1.91	$	0.96
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding		195,192,789		204,628,796
Plus: Dilutive Effect of Share-based Compensation		932,182		506,049
Average Common and Potential Common Shares		196,124,971		205,134,845
Earnings Allocated to Common and Potential Common Shares		$	372.2	$	196.1
Diluted Net Income Per Common Share		1.90		0.96

Note: For the three months ended March 31, 2025, there were no 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, 2024, there were de minimis common stock equivalents excluded in the computation of diluted net income per share.