Earnings Per Common Share

6 Months Ended

Jun. 30, 2016

Earnings Per Common Share

Earnings Per Common Share

13. Earnings Per Common Share

The computations of the basic and diluted per share amounts were as follows:

	For the three months ended				For the six months ended
	June 30,				June 30,
	2016		2015		2016		2015
	(in millions, except per share data)
Net income	$	327.0	$	264.9	$	696.2	$	694.0
Subtract:
Net income attributable to noncontrolling interest	4.7		7.3		5.9		14.0
Preferred stock dividends	—		8.3		—		16.5
Excess of redemption value over carrying value of preferred shares redeemed	—		8.2		—		8.2
Total	$	322.3	$	241.1	$	690.3	$	655.3
Weighted-average shares outstanding:
Basic	289.9		295.0		290.7		294.9
Dilutive effects:
Stock options	1.1		1.6		1.1		1.6
Restricted stock units	1.4		1.5		1.4		1.6
Performance share awards	0.2		0.3		0.2		0.3
Diluted	292.6		298.4		293.4		298.4
Net income per common share:
Basic	$	1.11	$	0.82	$	2.37	$	2.22
Diluted	$	1.10	$	0.81	$	2.35	$	2.20

The calculation of diluted earnings per share for the three and six months ended June 30, 2016 and 2015, excludes the incremental effect related to certain outstanding stock-based compensation grants due to their anti-dilutive effect.