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Net Income per Common Share
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net Income per Common Share Net Income per Common Share
The computations of net income per common share are presented in the following table.

TABLE 95: NET INCOME PER COMMON SHARE
FOR THE YEAR ENDED DECEMBER 31,
($ In Millions Except Per Common Share Information)202120202019
BASIC NET INCOME PER COMMON SHARE
Average Number of Common Shares Outstanding208,075,522 208,319,412 214,525,547 
Net Income$1,545.3 $1,209.3 $1,492.2 
Less: Dividends on Preferred Stock41.8 56.2 46.4 
Net Income Applicable to Common Stock1,503.5 1,153.1 1,445.8 
Less: Earnings Allocated to Participating Securities12.9 12.1 16.9 
Earnings Allocated to Common Shares Outstanding$1,490.6 $1,141.0 $1,428.9 
Basic Net Income Per Common Share7.16 5.48 6.66 
DILUTED NET INCOME PER COMMON SHARE
Average Number of Common Shares Outstanding208,075,522 208,319,412 214,525,547 
Plus Dilutive Effect of Share-based Compensation823,708 688,574 1,075,602 
Average Common and Potential Common Shares208,899,230 209,007,986 215,601,149 
Earnings Allocated to Common and Potential Common Shares$1,490.6 $1,141.1 $1,428.9 
Diluted Net Income Per Common Share7.14 5.46 6.63 
Note: For the years ended December 31, 2021, 2020, and 2019, there were no common stock equivalents excluded in the computation of diluted net income per share.