Net Income Per Share

12 Months Ended

Dec. 31, 2016

Note 3: Net Income Per Share

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:



(in millions)	2016		2015		2014
Net income	$	143.6	$	95.6	$	127.1
Weighted average common shares outstanding	73.3		72.0		70.9
Dilutive effect of stock options, stock appreciation rights and performance share awards, based on the treasury stock method	1.7		1.8		1.9
Weighted average shares assuming dilution	75.0		73.8		72.8

During 2016, 2015 and 2014, there were 0.1 million, 0.7 million, and 0.5 million shares from stock-based compensation plans not included in the computation of diluted net income per share because their impact was antidilutive.

In December 2015, we announced a share repurchase program authorizing the repurchase of up to700,000 shares of our 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. During 2016, we purchased 700,000 shares of our common stock under this program at a cost of $52.2 million, or an average price of $74.54 per share. This share repurchase program expired on December 31, 2016.

In December 2016, we announced a share repurchase program authorizing the repurchase of up to 800,000 shares of our 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. This share repurchase program commenced on January 1, 2017 and is expected to be completed by December 31, 2017.