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Earnings per Common Share (Tables)
15 Months Ended
Mar. 31, 2013
Earnings Per Share Computation

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

 

     Three Months Ended
March 31,
 
     2013      2012  
(dollars and shares in millions)              

EPS Numerator:

     

Net income

   $ 90.7       $ 138.7   

Less: Income allocated to participating securities

     1.7         2.7   
  

 

 

    

 

 

 

Net income available to common shareholders

   $ 89.0       $ 136.0   
  

 

 

    

 

 

 

EPS Denominator:

     

Weighted average common shares outstanding

     81.3         84.1   

Dilutive common share equivalents from share-based compensation plans

     1.2         1.0   
  

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

     82.5         85.1