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) | 2021 | 2020 | 2019 | BASIC NET INCOME PER COMMON SHARE | | | | Average Number of Common Shares Outstanding | 208,075,522 | | 208,319,412 | | 214,525,547 | | Net Income | $ | 1,545.3 | | $ | 1,209.3 | | $ | 1,492.2 | | Less: Dividends on Preferred Stock | 41.8 | | 56.2 | | 46.4 | | Net Income Applicable to Common Stock | 1,503.5 | | 1,153.1 | | 1,445.8 | | Less: Earnings Allocated to Participating Securities | 12.9 | | 12.1 | | 16.9 | | Earnings Allocated to Common Shares Outstanding | $ | 1,490.6 | | $ | 1,141.0 | | $ | 1,428.9 | | Basic Net Income Per Common Share | 7.16 | | 5.48 | | 6.66 | | DILUTED NET INCOME PER COMMON SHARE | | | | Average Number of Common Shares Outstanding | 208,075,522 | | 208,319,412 | | 214,525,547 | | Plus Dilutive Effect of Share-based Compensation | 823,708 | | 688,574 | | 1,075,602 | | Average Common and Potential Common Shares | 208,899,230 | | 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 Share | 7.14 | | 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.
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