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Earnings Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share

14. Earnings Per Share

A computation of the weighted average shares outstanding for 2015, 2014 and 2013 is as follows:

 

(in millions)

      2015        2014        2013  

Weighted average shares outstanding:

               

Basic

        195.8           185.3           170.6   

Dilutive share-based awards

        0.4           0.8           1.4   

Convertible debt

        8.3           3.7           0.5   
    

 

 

       

 

 

       

 

 

  

Diluted

        204.5           189.8           172.5   
    

 

 

       

 

 

       

 

 

  

Because it is the Company’s intention to redeem the principal amount of the Senior Subordinated Convertible Notes in cash, the treasury stock method is used for determining potential dilution in the diluted earnings per share computation. As of December 31, 2015, there were 4.9 million potentially dilutive restricted share awards with performance-based vesting targets that were not met and as such, have been excluded from the computation of diluted earnings per share.