Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings per share [Abstract]

Earnings Per Share

Note 11: Earnings Per Share

The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in millions, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Net income	$	140.4	$	174.6	$	288.8	$	308.6
Average shares outstanding (basic)		246.6		246.3		247.1		246.2
Common stock equivalents		1.5		1.4		1.5		1.6
Diluted shares		248.1		247.7		248.6		247.8
Basic earnings per share	$	0.57	$	0.71	$	1.17	$	1.25
Diluted earnings per share	$	0.57	$	0.70	$	1.16	$	1.25

Activity in the Company's treasury shares for the three-and six-month periods ended June 30, 2013 and 2012 was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Treasury shares at beginning of period		15,768,832			16,826,348			16,415,336			17,579,397
Purchases of treasury shares		1,500,002			100,000			2,113,455			157,200
Net change in treasury shares owned by participants in nonqualified deferred compensation plans		(1,068	)		–			52,107			–
Treasury shares issued in satisfaction of stock option exercises and vesting of restricted stock units		(266,036	)		(87,330	)		(1,579,168	)		(897,579	)
Treasury shares at end of period		17,001,730			16,839,018			17,001,730			16,839,018

The average cost of treasury shares acquired for the three-and six-month periods ended June 30, 2013 was $60.93 and $61.77, respectively.