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Net Income Per Common Share Computations
9 Months Ended
Sep. 30, 2011
Net Income Per Common Share Computations

11. Net Income Per Common Share Computations – The computations of net income per common share are presented in the following table.

 

     Three Months Ended      Nine Months Ended  
     September 30,      September 30,  

(In Millions Except Share Information)

   2011      2010      2011      2010  

Basic Net Income Per Common Share

           

Average Number of Common Shares Outstanding

     240,991,491         242,124,461         241,529,793         241,966,279   

Net Income

   $ 170.4       $ 155.6       $ 473.4       $ 512.4   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net Income Applicable to Common Stock

     170.4         155.6         473.4         512.4   

Less: Earnings Allocated to Participating Securities

     2.0         1.3         5.5         4.2   
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings Allocated to Common Shares Outstanding

   $ 168.4       $ 154.3       $ 467.9       $ 508.2   
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic Net Income Per Common Share

     .70         .64         1.94         2.10   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted Net Income Per Common Share

           

Average Number of Common Shares Outstanding

     240,991,491         242,124,461         241,529,793         241,966,279   

Plus Stock Option Dilution

     202,502         33,966         488,957         455,382   
  

 

 

    

 

 

    

 

 

    

 

 

 

Average Common and Potential Common Shares

     241,193,993         242,158,427         242,018,750         242,421,661   
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings Allocated to Common and Potential Common Shares

   $ 168.4       $ 154.3       $ 467.9       $ 508.2   

Diluted Net Income Per Common Share

     .70         .64         1.93         2.10   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

Note: Common stock equivalents totaling 15,650,249 and 12,420,777 for the three and nine months ended September 30, 2011, respectively, and 6,860,298 and 7,958,582 for the three and nine months ended September 30, 2010, respectively, were not included in the computation of diluted net income per common share because their inclusion would have been antidilutive.