Net Income Per Common Share

6 Months Ended

Jun. 30, 2017

11.	Net Income Per Common Share

The following table presents the calculation of net income per common share on a basic and diluted basis:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(in millions, except number of shares and per share amounts)	2017		2016		2017		2016
Net income	$	46.0	$	30.9	$	82.7	$	58.6
Weighted average common shares outstanding - basic		30,201,457		30,187,592		30,124,696		30,333,417
Effect of dilutive securities:
Equity compensation awards		846,624		622,564		870,476		637,772
Weighted average common shares outstanding - diluted		31,048,081		30,810,156		30,995,172		30,971,189
Net income per common share:
Basic	$	1.52	$	1.03	$	2.75	$	1.93
Diluted	$	1.48	$	1.00	$	2.67	$	1.89

Excluded from the weighted average common shares outstanding calculation at June 30, 2017 and 2016 are 10,075,255 shares and 9,900,239 shares, respectively, which are held as treasury shares. The shares are excluded as of their repurchase date.