Earnings per Common Share

6 Months Ended

Jun. 30, 2012

Earnings per Common Share

3. 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,
	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

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.