Earnings per Common Share

12 Months Ended

Dec. 31, 2013

Earnings per Common Share

5. Earnings per Common Share

Earnings per share (“EPS”) is computed under the two-class method, which requires nonvested share-based payment awards that have non-forfeitable rights to dividend or dividend equivalents to be treated as a separate class of securities in calculating EPS. Participating securities include nonvested restricted stock and units, nonvested shares or units under the management stock purchase program, and certain other nonvested stock-based awards. EPS is computed using the following common share information for the following years ended December 31:

	2013		2012		2011
(dollars and shares in millions)
EPS Numerator:
Net income attributable to common shareholders	$	689.8	$	530.1	$	328.0
Less: Income allocated to participating securities		12.5		10.0		6.1
Net income available to common shareholders	$	677.3	$	520.1	$	321.9
EPS Denominator:
Weighted average common shares outstanding		79.3		83.3		85.8
Dilutive common share equivalents from share-based compensation plans		1.4		1.1		1.5
Weighted average common and common equivalent shares outstanding, assuming dilution		80.7		84.4		87.3