Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share:

Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share are computed by dividing net income by the sum of the weighted-average number of shares and the number of equivalent shares assumed outstanding, if dilutive, under our stock-based compensation plans.

The computations of basic and diluted earnings per share for Income from continuing operations were as follows (in millions, except per share data):



	For the Years Ended December 31,
	2016			2015			2014
Net income	$	277.8		$	186.6		$	205.8
Add: Loss from discontinued operations	0.8			0.6			2.3
Income from continuing operations	$	278.6		$	187.2		$	208.1

Weighted-average shares outstanding – basic	43.4			44.9			47.9
Add: Potential effect of diluted securities attributable to stock-based payments	0.6			0.7			0.7
Weighted-average shares outstanding – diluted	44.0			45.6			48.6

Earnings per share - Basic:
Income from continuing operations	$	6.41		$	4.17		$	4.35
Loss from discontinued operations	(0.02		)	(0.01		)	(0.05		)
Net income	$	6.39		$	4.16		$	4.30

Earnings per share - Diluted:
Income from continuing operations	$	6.34		$	4.11		$	4.28
Loss from discontinued operations	(0.02		)	(0.02		)	(0.05		)
Net income	$	6.32		$	4.09		$	4.23

The following stock appreciation rights were outstanding but not included in the diluted earnings per share calculation because the assumed exercise of such rights would have been anti-dilutive (in millions, except for per share data):



	For the Years Ended December 31,
	2016		2015		2014
Weighted-average number of shares	—		—		0.3
Price ranges per share	$	—	$	—	$81.11 - $92.64