Net Income Per Common Share

6 Months Ended

Jun. 30, 2022

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

TABLE 64: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED JUNE 30,				SIX MONTHS ENDED JUNE 30,
($ In Millions Except Per Common Share Information)	2022		2021		2022		2021
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	208,383,991		208,369,188		208,205,469		208,241,714
Net Income	$	396.2	$	368.1	$	785.5	$	743.2
Less: Dividends on Preferred Stock	4.7		4.7		20.9		20.9
Net Income Applicable to Common Stock	391.5		363.4		764.6		722.3
Less: Earnings Allocated to Participating Securities	3.2		3.2		6.3		6.9
Earnings Allocated to Common Shares Outstanding	388.3		360.2		758.3		715.4
Basic Net Income Per Common Share	$	1.86	$	1.73	$	3.64	$	3.44
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	208,383,991		208,369,188		208,205,469		208,241,714
Plus: Dilutive Effect of Share-based Compensation	494,359		768,902		638,465		801,084
Average Common and Potential Common Shares	208,878,350		209,138,090		208,843,934		209,042,798
Earnings Allocated to Common and Potential Common Shares	$	388.3	$	360.2	$	758.3	$	715.4
Diluted Net Income Per Common Share	1.86		1.72		3.63		3.42

Note: For the three and six months ended June 30, 2022 and 2021, there were no common stock equivalents excluded in the computation of diluted net income per share.