Earnings Per Share

9 Months Ended

Sep. 30, 2016

The Company’s basic earnings per share calculations are based on the weighted average number of common shares outstanding during the period. Shares of restricted stock are included in the computation of both basic and diluted earnings per share. Potentially dilutive securities include outstanding stock options, restricted share units, deferred stock units and performance-based restricted share units. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury method. Diluted earnings per share gives effect to all potentially dilutive common shares outstanding during the period.



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions, except per share data)	2016		2015		2016		2015
Net income attributable to common shareholders	$	63.5	$	56.9	$	186.8	$	163.7

Average basic shares outstanding	58.5		58.1		58.3		58.0
Effect of dilutive stock options	0.9		0.7		0.9		0.8
Average diluted shares outstanding	59.4		58.8		59.2		58.8

Earnings per basic share	$	1.09	$	0.98	$	3.20	$	2.82
Earnings per diluted share	$	1.07	$	0.97	$	3.16	$	2.78

The computation of diluted earnings per share excludes the effect of the potential exercise of stock options when the average market price of the common stock is lower than the exercise price of the related stock options during the period (0.7 million and 1.3 million average options were excluded for the third quarter of 2016 and 2015, respectively, and 1.1 million average options for both the first nine months of 2016 and 2015).