Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Component of income from continuing operations and share data used in basic and diluted earnings per share

The following reflects income from continuing operations and share data used in the basic and diluted earnings per share computations using the two-class method:



	Three Months Ended June 30,						Six Months Ended June 30,
(in millions except share and per share amounts)	2017			2016			2017			2016
Income from continuing operations	$	102.3		$	115.3		$	163.8		$	183.8
Less: dividends declared - common stock outstanding, restricted shares and restricted share units	(23.1		)	(19.5		)	(45.8		)	(39.0		)
Undistributed earnings	79.2			95.8			118.0			144.8
Percent allocated to common shareholders ⁽¹⁾	99.4		%	99.3		%	99.4		%	99.3		%
	78.7			95.1			117.3			143.8
Add: dividends declared - common stock	22.4			19.3			44.9			38.5
Income from continuing operations attributable to common shares	$	101.1		$	114.4		$	162.2		$	182.3

Shares (in thousands):
Weighted-average common shares outstanding	63,746			64,246			64,048			64,131
Effect of dilutive securities:
Performance awards	69			445			69			445
Stock options	325			421			356			474
Adjusted weighted-average common shares outstanding and assumed conversion	64,140			65,112			64,473			65,050

Per share income from continuing operations attributable to common shares:
Basic	$	1.59		$	1.78		$	2.53		$	2.84
Diluted	$	1.58		$	1.75		$	2.52		$	2.80

⁽¹⁾ Basic weighted-average common shares outstanding	63,746			64,246			64,048			64,131
Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units	64,160			64,703			64,462			64,587
Percent allocated to common shareholders	99.4		%	99.3		%	99.4		%	99.3		%

Component of income (loss) from discontinued operations and share data used in basic and diluted earnings per share

Income from discontinued operations and net income used in the basic and diluted earnings per share computations were as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
(in millions except share amounts presented in thousands)	2017		2016			2017		2016
(Loss) income from discontinued operations attributable to common shareholders for basic and diluted earnings per share	$	—	$	(0.1	)	$	0.3	$	(0.1	)
Net income attributable to common shareholders for basic and diluted earnings per share	$	101.1	$	114.3		$	162.5	$	182.2
Anti-dilutive stock options excluded from EPS calculation ⁽¹⁾	379		54			285		387

⁽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.