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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Income Per Common Share

The following table sets forth the computation of basic and diluted income per common share for the periods presented (dollars and shares in millions, except per share data).

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

765.2

 

 

$

1,029.8

 

 

$

841.1

 

Less: distributed and undistributed earnings allocated
   to participating securities

 

 

(6.2

)

 

 

(7.9

)

 

 

(6.4

)

Net income attributable to common stockholders

 

$

759.0

 

 

$

1,021.9

 

 

$

834.7

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

89.1

 

 

 

92.3

 

 

 

94.1

 

Effect of dilutive securities

 

 

0.4

 

 

 

0.4

 

 

 

0.4

 

Diluted common shares outstanding

 

 

89.5

 

 

 

92.7

 

 

 

94.5

 

Basic income per common share

 

$

8.52

 

 

$

11.08

 

 

$

8.87

 

Diluted income per common share

 

$

8.48

 

 

$

11.03

 

 

$

8.83