Net Income Per Common Share

6 Months Ended

Jun. 30, 2021

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

TABLE 66: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED JUNE 30,				SIX MONTHS ENDED JUNE 30,
($ In Millions Except Per Common Share Information)	2021		2020		2021		2020
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	208,369,188		208,068,635		208,241,714		208,474,883
Net Income	$	368.1	$	313.3	$	743.2	$	673.9
Less: Dividends on Preferred Stock	4.7		4.8		20.9		35.3
Net Income Applicable to Common Stock	363.4		308.5		722.3		638.6
Less: Earnings Allocated to Participating Securities	3.2		3.4		6.9		7.3
Earnings Allocated to Common Shares Outstanding	360.2		305.1		715.4		631.3
Basic Net Income Per Common Share	$	1.73	$	1.47	$	3.44	$	3.03
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	208,369,188		208,068,635		208,241,714		208,474,883
Plus: Dilutive Effect of Share-based Compensation	768,902		499,722		801,084		717,707
Average Common and Potential Common Shares	209,138,090		208,568,357		209,042,798		209,192,590
Earnings Allocated to Common and Potential Common Shares	$	360.2	$	305.2	$	715.4	$	631.3
Diluted Net Income Per Common Share	1.72		1.46		3.42		3.02

Note: For the three and six months ended June 30, 2021 and 2020, there were no common stock equivalents excluded in the computation of diluted net income per share.