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Earnings per Common Share
6 Months Ended
Jun. 30, 2011
Earnings per Common Share  
Earnings per Common Share

4. Earnings per Common Share

Earnings per share ("EPS") is computed under the two-class method using the following common share information:

 

     Quarter
Ended
June 30,
     Six Months
Ended
June 30,
 
     2011     2010      2011      2010  
(dollars and shares in millions)                           

EPS Numerator:

          

Net (loss) income attributable to common shareholders

   $ (47.8   $ 124.6       $ 84.1       $ 245.5   

Less: Income allocated to participating securities

     —          1.4         1.7         2.8   
                                  

Net (loss) income available to common shareholders

   $ (47.8   $ 123.2       $ 82.4       $ 242.7   
                                  

EPS Denominator:

          

Weighted average common shares outstanding

     86.2        94.4         85.8         94.9   

Dilutive common share equivalents primarily from share-based compensation plans

     —          1.2         2.0         1.2   
                                  

Weighted average common and common equivalent shares outstanding, assuming dilution

     86.2        95.6         87.8         96.1   
                                  

For the quarter ended June 30, 2011, approximately 2.4 million common share equivalents primarily from share-based compensation plans were not included in the computation of diluted weighted average shares outstanding because their effect would have been antidilutive.