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Net Income Per Share (Tables)
9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Reconciliation between Basic and Diluted Weighted Average Shares Outstanding The following is a reconciliation between basic and diluted weighted average shares outstanding:

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

(in millions, except per share data)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Net income

 

$

175.9

 

 

$

161.1

 

 

$

601.8

 

 

$

526.6

 

Net income attributable to unvested awarded performance stock

 

 

(2.6

)

 

 

(2.9

)

 

 

(9.4

)

 

 

(10.1

)

Net income attributable to common shares

 

$

173.3

 

 

$

158.2

 

 

$

592.4

 

 

$

516.5

 

Weighted average number of common shares outstanding – basic

 

 

284.1

 

 

 

283.0

 

 

 

283.7

 

 

 

282.7

 

Less unvested awarded performance stock included in weighted
   average number of common shares outstanding – basic

 

 

(4.2

)

 

 

(5.2

)

 

 

(4.4

)

 

 

(5.4

)

Weighted average number of common shares outstanding for basic
   net income per common share

 

 

279.9

 

 

 

277.8

 

 

 

279.3

 

 

 

277.3

 

Dilutive effect of potentially issuable common shares

 

 

1.4

 

 

 

0.9

 

 

 

1.1

 

 

 

1.2

 

Weighted average number of shares outstanding – diluted

 

 

281.3

 

 

 

278.7

 

 

 

280.4

 

 

 

278.5

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.62

 

 

$

0.57

 

 

$

2.12

 

 

$

1.86

 

Diluted

 

$

0.62

 

 

$

0.57

 

 

$

2.11

 

 

$

1.85