Net Income Per Share

6 Months Ended

Jun. 30, 2016

The following table reconciles the shares used in the calculation of basic net income per share to those used for diluted net income per share:



	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2016		2015		2016		2015
Net income	$	44.7	$	27.8	$	66.9	$	60.7

Weighted average common shares outstanding	73.3		72.0		72.9		71.9
Dilutive effect of equity awards, based on the treasury stock method	1.5		1.7		1.6		1.6
Weighted average shares assuming dilution	74.8		73.7		74.5		73.5

During the three months ended June 30, 2016 and 2015, there were 0.1 million and 0.8 million shares, respectively, not included in the computation of diluted net income per share because their impact was antidilutive. There were 0.4 million and 0.5 million antidilutive shares outstanding during the six months ended June 30, 2016 and 2015, respectively.

In December 2015, we announced a share repurchase program authorizing the repurchase of up to 700,000 shares of the Company’s common stock from time to time on the open market or in privately-negotiated transactions as permitted under the Securities Exchange Act of 1934 Rule 10b-18. The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions. The program commenced on January 1, 2016 and is expected to be completed by December 31, 2016. During the three months ended June 30, 2016, the Company purchased 110,700 shares of its common stock under this program at a cost of $8.1 million, or an average price of $73.20 per share. During the six months ended June 30, 2016, the Company purchased 253,500 shares of its common stock under this program at a cost of $17.2 million, or an average price of $67.82 per share.