Net Income Per Common Share

3 Months Ended

Mar. 31, 2023

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

TABLE 61: NET INCOME PER COMMON SHARE


	THREE MONTHS ENDED MARCH 31,
($ In Millions Except Per Common Share Information)	2023		2022
Basic Net Income Per Common Share
Average Number of Common Shares Outstanding	208,186,841		208,024,962
Net Income	$	334.6	$	389.3
Less: Dividends on Preferred Stock	16.2		16.2
Net Income Applicable to Common Stock	318.4		373.1
Less: Earnings Allocated to Participating Securities	3.2		3.1
Earnings Allocated to Common Shares Outstanding	315.2		370.0
Basic Net Income Per Common Share	$	1.51	$	1.78
Diluted Net Income Per Common Share
Average Number of Common Shares Outstanding	208,186,841		208,024,962
Plus: Dilutive Effect of Share-based Compensation	543,548		784,171
Average Common and Potential Common Shares	208,730,389		208,809,133
Earnings Allocated to Common and Potential Common Shares	$	315.2	$	370.0
Diluted Net Income Per Common Share	1.51		1.77

Note: For the three months ended March 31, 2023 and 2022, there were no common stock equivalents excluded in the computation of diluted net income per share.