Net Income per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Computations of Net Income per Common Share

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

TABLE 94: NET INCOME PER COMMON SHARE


	FOR THE YEAR ENDED DECEMBER 31,
($ In Millions Except Per Common Share Information)	2022		2021		2020
BASIC NET INCOME PER COMMON SHARE
Average Number of Common Shares Outstanding	208,309,331		208,075,522		208,319,412
Net Income	$	1,336.0	$	1,545.3	$	1,209.3
Less: Dividends on Preferred Stock	41.8		41.8		56.2
Net Income Applicable to Common Stock	1,294.2		1,503.5		1,153.1
Less: Earnings Allocated to Participating Securities	11.8		12.9		12.1
Earnings Allocated to Common Shares Outstanding	$	1,282.4	$	1,490.6	$	1,141.0
Basic Net Income Per Common Share	6.16		7.16		5.48
DILUTED NET INCOME PER COMMON SHARE
Average Number of Common Shares Outstanding	208,309,331		208,075,522		208,319,412
Plus Dilutive Effect of Share-based Compensation	557,933		823,708		688,574
Average Common and Potential Common Shares	208,867,264		208,899,230		209,007,986
Earnings Allocated to Common and Potential Common Shares	$	1,282.4	$	1,490.6	$	1,141.1
Diluted Net Income Per Common Share	6.14		7.14		5.46

Note: For the years ended December 31, 2022, 2021, and 2020, there were no common stock equivalents excluded in the computation of diluted net income per share.