Common Share Data

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Common Share Data

Common Share Data:

Earnings Per Share - Consolidated basic earnings per share excludes the dilutive effect of common stock equivalents and is computed by dividing income available to common stockholders by the weighted-average number of common shares actually outstanding for the quarterly and year-to-date periods. Diluted earnings per share are similarly calculated with the inclusion of dilutive common stock equivalents. The following table provides a reconciliation of net income and the number of shares used in basic and diluted earnings per share calculations.

	Quarters Ended
	March 31,
	2017		2016
Numerator:
Net income	$	113.1	$	122.9
Numerator for basic earnings per share -
income available to common stockholders	113.1		122.9
Adjustment for interest expense incurred on
assumed conversion of convertible notes	3.6		3.6
Numerator for diluted earnings per share -
income available to common stockholders
after assumed conversion of convertible notes	$	116.7	$	126.6
Denominator:
Denominator for basic earnings per share -
weighted-average shares (a)	260,784,905		258,657,939
Effect of dilutive securities - stock based
compensation awards	1,703,231		1,230,909
Effect of dilutive securities - convertible senior notes	35,751,213		35,654,960
Denominator for diluted earnings per share -
adjusted weighted-average shares
and assumed conversion of convertible notes (a)	298,239,349		295,543,808
Earnings per share: Basic	$	.43	$	.48
Diluted	$	.39	$	.43
Anti-dilutive common stock equivalents
excluded from earning per share computations:
Stock based compensation awards	—		3,765,001
Convertible senior notes	—		—
Total	—		3,765,001

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(a) In calculating earnings per share, pertinent accounting rules require that common shares owned by the Company's Employee Savings and Stock Ownership Plan that are not yet allocated to participants in the plan be excluded from the calculation. Such shares are issued and outstanding and have the same voting and other rights applicable to all other common shares.