Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following tables set forth the reconciliation of basic and diluted earnings per share for the quarterly and six-month periods ended June 30 (in millions, except per share amounts):

	Quarter Ended June 30,
	2011		2010
Net Income Available to Common Stockholders	$	44	$	35
Denominator for Basic Earnings per Share	162.0		162.3
Effect of Dilutive Securities – Stock Options	0.3		0.2
Effect of Dilutive Securities – Restricted Stock, Restricted Stock Units and Value Management Plan	—		—
Denominator for Diluted Earnings per Share – Adjusted for Dilutive Securities	162.3		162.5
Per Share Amounts:
Net Income Per Share – Basic	$	0.27	$	0.21
Net Income Per Share – Diluted	$	0.27	$	0.21
	Six Months Ended June 30,
	2011		2010
Income from Continuing Operations	$	82	$	111
Gain on Sale of Properties, net of tax	—		11
Net Income Available to Common Stockholders	$	82	$	122
Denominator for Basic Earnings per Share	161.9		162.6
Effect of Dilutive Securities – Stock Options	0.3		0.2
Effect of Dilutive Securities – Restricted Stock, Restricted Stock Units and Value Management Plan	—		—
Denominator for Diluted Earnings per Share – Adjusted for Dilutive Securities	162.2		162.8
Per Share Amounts – Basic:
Income from Continuing Operations	$	0.51	$	0.68
Gain on Sale of Properties, net of tax	$	—	$	0.07
Net Income	$	0.51	$	0.75
Per Share Amounts – Diluted:
Income from Continuing Operations	$	0.50	$	0.68
Gain on Sale of Properties, net of tax	$	—	$	0.07
Net Income	$	0.50	$	0.75

Under the company's Stock Incentive Plan, the company grants restricted stock units, which prior to vesting, are entitled to non-forfeitable cash payments equal to dividends paid on the company's common shares. These awards are considered participating securities for purposes of computing basic and diluted earnings per share.

Antidilutive options were excluded for certain periods from the computation of diluted earnings per share because the exercise prices of the options were greater than the average market price of the common shares. Antidilutive options were as follows for the quarterly and six-month periods ended June 30 (shares in millions):

	Quarter Ended June 30,
	2011	2010
Number of Options	1.1	2.0
Range of Exercise Prices	$41.55 to $43.23	$33.75 to $43.23
Expiration on or before	February 2021	February 2020

	Six Months Ended June 30,
	2011	2010
Number of Options	1.0	1.9
Range of Exercise Prices	$41.55 to $43.23	$33.75 to $43.23
Expiration on or before	February 2021	February 2020