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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2019
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):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

Numerator:

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

193.6

 

 

$

186.6

 

 

$

380.4

 

 

$

326.7

 

Less: distributed and undistributed

   earnings allocated to participating

   securities

 

 

(1.5

)

 

 

(1.4

)

 

 

(2.9

)

 

 

(2.5

)

Net income attributable to common shareholders

 

$

192.1

 

 

$

185.2

 

 

$

377.5

 

 

$

324.2

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average basic common shares

   outstanding

 

 

93.8

 

 

 

93.6

 

 

 

93.8

 

 

 

93.6

 

Effect of dilutive securities

 

 

0.2

 

 

 

0.2

 

 

 

0.2

 

 

 

0.2

 

Weighted average diluted common shares

   outstanding

 

 

94.0

 

 

 

93.8

 

 

 

94.0

 

 

 

93.8

 

Basic income per common share

 

$

2.05

 

 

$

1.98

 

 

$

4.03

 

 

$

3.46

 

Diluted income per common share

 

$

2.04

 

 

$

1.97

 

 

$

4.02

 

 

$

3.46