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Net Income per Common Share (Tables)
 12 Months Ended
Dec. 31, 2014
Computations of Net Income per Common Share

The computations of net income per common share are presented below.

 

TABLE 78: NET INCOME PER COMMON SHARE                          FOR THE YEAR ENDED DECEMBER 31,  
($ In Millions Except Per Common Share Information)    2014        2013        2012  

BASIC NET INCOME PER COMMON SHARE

                               

Average Number of Common Shares Outstanding

      235,829,790           239,265,313           240,417,805   

Net Income

    $ 811.8         $ 731.3         $ 687.3   

Less: Dividends on Preferred Stock

      9.5           –           –   
   

Net Income Applicable to Common Stock

    $ 802.3         $ 731.3         $ 687.3   

Less: Earnings Allocated to Participating Securities

      13.3           11.9           10.0   
   

Earnings Allocated to Common Shares Outstanding

      789.0           719.4           677.3   

Basic Net Income Per Common Share

      3.34           3.01           2.82   
   

DILUTED NET INCOME PER COMMON SHARE

                               

Average Number of Common Shares Outstanding

      235,829,790           239,265,313           240,417,805   

Plus Dilutive Effect of Share-based Compensation

      1,890,465           1,289,527           463,439   
   

Average Common and Potential Common Shares

      237,720,255           240,554,840           240,881,244   
   

Earnings Allocated to Common and Potential Common Shares

    $ 789.0         $ 719.5         $ 677.3   

Diluted Net Income Per Common Share

      3.32           2.99           2.81   

 

Note: Common stock equivalents totaling 1,517,588, 3,498,894, and 12,158,601 for the years ended December 31, 2014, 2013, and 2012, respectively, were not included in the computation of diluted net income per common share because their inclusion would have been antidilutive.