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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings per Share
The calculation of basic and diluted earnings per share is as follows (in millions, except per share data):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Numerator for basic and diluted earnings per share:
 
 
 
 
 
 
 
Income from continuing operations
$
116.6

 
$
106.3

 
$
180.4

 
$
184.6

(Loss) income from discontinued operations
(6.8
)
 
5.5

 
(16.4
)
 
6.5

Net income
$
109.8

 
$
111.8

 
$
164.0

 
$
191.1

Dividends and equivalents for share-based awards expected to be forfeited
—

 
—

 
—

 
—

Net income for basic earnings per share
$
109.8

 
$
111.8

 
$
164.0

 
$
191.1

Effect of Preferred Securities (1)
—

 
—

 
—

 
—

Net income for diluted earnings per share
$
109.8

 
$
111.8

 
$
164.0

 
$
191.1

Denominator for basic and diluted earnings per share:
 
 
 
 
 
 
 
Weighted-average shares outstanding
288.3

 
289.4

 
287.8

 
289.4

Share-based payment awards classified as participating securities
2.6

 
2.7

 
2.6

 
2.7

Denominator for basic earnings per share
290.9

 
292.1

 
290.4

 
292.1

Dilutive securities (2)
3.4

 
1.9

 
3.3

 
2.2

Preferred Securities (1)
—

 
—

 
—

 
—

Denominator for diluted earnings per share
294.3

 
294.0

 
293.7

 
294.3

Basic earnings per share:
 
 
 
 
 
 
 
Income from continuing operations
$
0.40

 
$
0.36

 
$
0.62

 
$
0.63

(Loss) income from discontinued operations
(0.02
)
 
0.02

 
(0.06
)
 
0.02

Net income
$
0.38

 
$
0.38

 
$
0.56

 
$
0.65

Diluted earnings per share:
 
 
 
 
 
 
 
Income from continuing operations
$
0.40

 
$
0.36

 
$
0.61

 
$
0.63

(Loss) income from discontinued operations
(0.02
)
 
0.02

 
(0.06
)
 
0.02

Net income
$
0.37

 
$
0.38

 
$
0.56

 
$
0.65


(1)
The Preferred Securities were anti-dilutive during 2012 through their redemption on July 16, 2012, and therefore, have been excluded from diluted earnings per share. Had the Preferred Securities been included in the diluted earnings per share calculation, net income for the three and six months ended June 30, 2012 would be increased by $3.5 million and $7.0 million, respectively. Weighted-average shares outstanding would be increased by 8.3 million shares for the three and six months ended June 30, 2012.
(2)
Dilutive securities include “in the money” options, non-participating restricted stock units and performance stock units. The weighted-average shares outstanding exclude the effect of 2.2 million and 9.8 million stock options for the three months ended June 30, 2013 and 2012, respectively, and 2.9 million and 10.2 million stock options for the six months ended June 30, 2013 and 2012, respectively, because such securities were anti-dilutive. The weighted-average shares outstanding for the three and six months ended June 30, 2012 also exclude the weighted average effect of 1.0 million performance stock units outstanding because the securities were anti-dilutive.