Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Earnings Per Common Share

Earnings Per Common Share

23. Earnings Per Common Share

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

	For the year ended December 31,
	2023		2022		2021
	(in millions, except per share data)
Net income	$	670.1	$	4,797.5	$	1,627.0
Subtract:
Net income attributable to noncontrolling interest		46.9		40.6		46.8
Total	$	623.2	$	4,756.9	$	1,580.2
Weighted-average shares outstanding:
Basic		241.3		251.1		269.0
Dilutive effects:
Stock options		0.9		1.5		1.3
Restricted stock units		2.0		2.2		2.1
Performance share awards		0.4		0.5		0.5
Diluted		244.6		255.3		272.9
Net income per common share:
Basic	$	2.58	$	18.94	$	5.87
Diluted	$	2.55	$	18.63	$	5.79

The calculation of diluted earnings per share for the years ended December 31, 2023, 2022 and 2021, excludes the incremental effect related to certain outstanding stock-based compensation grants due to their anti-dilutive effect. When a net loss is reported, our basic weighted-average shares are used to calculate diluted earnings per share, as dilutive shares would have an antidilutive effect and result in a lower loss per share.