Net Earnings Per Common Share

6 Months Ended

Jun. 30, 2016

Note 11. Net Earnings Per Common Share

Basic net earnings per common share is computed using the weighted average common shares outstanding during the period. Diluted net earnings per common share is computed by using the weighted average common shares outstanding including the dilutive effect of shares issued under the Employee Stock Purchase Plan and restricted shares based on an average share price during the period. For the three months ended June 30, 2016 and 2015, approximately 0.5 and 0.4 shares, respectively, and for the six months ended June 30, 2016 and 2015, approximately 0.4 and 0.6 shares, respectively, of the Company’s common stock were excluded from the determination of diluted earnings per common share because their effect would have been anti-dilutive.

The computations of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015, respectively, are as follows:


	Three months ended				Six months ended
	June 30,				June 30,
	2016		2015		2016		2015
Net earnings	$	84.8	$	78.9	$	167.4	$	156.5

Basic weighted average common shares		100.2		104.5		100.7		104.5
Effect of restricted shares issued		0.5		0.5		0.4		0.5
Diluted weighted average common shares		100.7		105.0		101.1		105.0

Basic net earnings per common share	$	0.85	$	0.76	$	1.66	$	1.50
Diluted net earnings per common share	$	0.84	$	0.75	$	1.66	$	1.49