Net Income Per Common Share Computations

6 Months Ended

Jun. 30, 2019

Net Income Per Common Share Computations

The computations of net income per common share are presented in the following table.

Table 62: Net Income per Common Share



	Three Months Ended June 30,				Six Months Ended June 30,
($ In Millions Except Per Common Share Information)	2019		2018		2019		2018
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	216,139,033		224,207,590		217,182,123		224,940,308
Net Income	$	389.4	$	390.4	$	736.5	$	772.0
Less: Dividends on Preferred Stock	5.9		5.9		23.2		23.2
Net Income Applicable to Common Stock	383.5		384.5		713.3		748.8
Less: Earnings Allocated to Participating Securities	3.8		5.0		8.1		10.2
Earnings Allocated to Common Shares Outstanding	379.7		379.5		705.2		738.6
Basic Net Income Per Common Share	$	1.76	$	1.69	$	3.25	$	3.28
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	216,139,033		224,207,590		217,182,123		224,940,308
Plus: Dilutive Effect of Share-based Compensation	1,030,506		1,403,807		1,031,952		1,385,184
Average Common and Potential Common Shares	217,169,539		225,611,397		218,214,075		226,325,492
Earnings Allocated to Common and Potential Common Shares	$	379.8	$	379.5	$	705.2	$	738.6
Diluted Net Income Per Common Share	1.75		1.68		3.23		3.26

Note: For the three and six months ended June 30, 2019, there were no common stock equivalents excluded in the computation of diluted net income per share. There were also no common stock equivalents excluded in the computation of diluted net income per share for the three and six months ended June 30, 2018.