Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings per Share

We compute basic earnings per share by dividing net income available to our common shareholders by the weighted average number of shares of our common stock outstanding. We appropriately weighted shares issued or reacquired during the period that they were outstanding. Our diluted earnings per share reflect the impacts of our potentially dilutive securities, which include our convertible preferred stock and our equity compensation awards.

In the second quarter of 2013, both series of our preferred stock were retired with all shares either converted to common stock or redeemed.

The following table shows the computation of our basic and diluted net income per common share (in millions, except per share amounts):

	Three Months Ended March 31
	2014		2013
Numerator:
Net income	$	42.1	$	27.1
Denominator:
Weighted average shares outstanding - basic	46.0		46.9
Effect of dilutive securities:
Equity compensation plans	0.8		0.7
Convertible preferred stock	—		0.1
Weighted average shares outstanding - diluted	46.8		47.7
Basic earnings per share	$	0.92	$	0.58
Diluted earnings per share	$	0.90	$	0.57