Net Income Per Share

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Net income	$	346.2	$	241.7	$	206.9
Weighted average common shares outstanding	73.9		74.0		73.9
Dilutive effect of equity awards, based on the treasury stock method	1.9		1.4		1.5

Weighted average shares assuming dilution	75.8		75.4		75.4

During 2020, 2019 and 2018, there were 0.0 million, 0.1 million, and 0.4 million shares, respectively, from stock-based compensation plans not included in the computation of diluted net income per share because their impact was antidilutive.

In December 2019, we announced a share repurchase program for calendar-year 2020 authorizing the repurchase of up to 848,000 shares of our common stock from time to time on the open market or in privately-negotiated transactions as permitted under Exchange Act Rule 10b-18. There were no shares purchased during the three months ended December 31, 2020. During the year ended December 31, 2020, we purchased 761,500 shares of our common stock under the now completed program at a cost of $115.5 million, or an average price of $151.65 per share.

In December 2020, we announced a share repurchase program for calendar-year 2021 authorizing the repurchase of up to 631,000 shares of our common stock from time to time on the open market or in privately-negotiated transactions as permitted under Exchange Act 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 is expected to be completed by December 31, 2021.