Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of basic and diluted earnings per share

Net income and share data used in the basic and diluted earnings per share computations using the two-class method follows:


	Three Months Ended March 31,
(in millions, except per share amounts)		2021			2020
Net income		$	52.2		$	61.8
Less: dividends declared		(28.5)			(28.3)
Undistributed earnings		23.7			33.5
Percent allocated to common shareholders(1)		99.7		%	99.7		%
		23.6			33.4
Add: dividends declared on common stock, restricted share units and vested and deferred restricted and performance shares		28.4			28.2
Net income attributable to common shares		$	52.0		$	61.6

Shares:
Basic weighted-average shares outstanding		53.0			55.8
Effect of dilutive securities:
Performance awards		0.1			0.2
Stock options		0.5			0.5
Diluted weighted-average shares outstanding		53.6			56.5

Per share net income attributable to common shares:
Basic		$	0.98		$	1.10
Diluted		$	0.97		$	1.09

(1) Basic weighted-average common shares outstanding		53.0			55.8
Basic weighted-average shares outstanding and unvested restricted shares expected to vest		53.2			56.0
Percent allocated to common shareholders		99.7		%	99.7		%

Schedule of antidilutive securities excluded from computation of earnings per share


	Three Months Ended March 31,
(in millions)		2021	2020


Anti-dilutive stock options excluded from EPS calculation(1)		0.6	0.2

(1)Represents stock options excluded from the calculation of diluted earnings per share, as such options’ assumed proceeds upon exercise would result in the repurchase of more shares than the underlying award.