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Earnings per Common Share (Tables)
6 Months Ended
Jun. 30, 2012
Earnings Per Share Computation

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,
 
     2012      2011     2012      2011  
(dollars and shares in millions)                           

EPS Numerator:

          

Net income (loss)

   $ 133.9       $ (47.8   $ 272.6       $ 84.1   

Less: Income allocated to participating securities

     2.6         —          5.3         1.7   
  

 

 

    

 

 

   

 

 

    

 

 

 

Net income (loss) available to common shareholders

   $ 131.3       $ (47.8   $ 267.3       $ 82.4   
  

 

 

    

 

 

   

 

 

    

 

 

 

EPS Denominator:

          

Weighted average common shares outstanding

     83.9         86.2        84.0         85.8   

Dilutive common share equivalents from share-based compensation plans

     1.2         —          1.1         2.0   
  

 

 

    

 

 

   

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

     85.1         86.2        85.1         87.8