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Earnings per Common Share (Tables)
 6 Months Ended
Jun. 30, 2013
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,		  
     2013     2012      2013     2012  
(dollars and shares in millions)                          

EPS Numerator:

          

Net (loss) income

    $ (161.6 )    $ 133.9       $ (70.9 )    $ 272.6   

Less: Income allocated to participating securities

      —          2.6         —          5.3   
  

 

 

    

 

 

     

 

 

    

 

 

  

Net (loss) income available to common shareholders

    $ (161.6 )    $ 131.3       $ (70.9 )    $ 267.3   
  

 

 

    

 

 

     

 

 

    

 

 

  

EPS Denominator:

            

Weighted average common shares outstanding

      79.8         83.9         80.6         84.0   

Dilutive common share equivalents from share-based compensation plans

      —           1.2         —           1.1   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common and common equivalent shares outstanding, assuming dilution

      79.8         85.1         80.6         85.1