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Earnings per Common Share (Tables)
3 Months Ended
Mar. 31, 2015
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,
 
  2015   2014  
(dollars and shares in millions)        

EPS Numerator:

Net income

 $ 139.8         $ 148.4       

Less: Income allocated to participating securities

  2.1          2.5       
  

 

 

    

 

 

 

Net income available to common shareholders

 $     137.7         $     145.9       
  

 

 

    

 

 

 

EPS Denominator:

Weighted average common shares outstanding

  74.4          77.0       

Dilutive common share equivalents from share-based compensation plans

  1.4          1.5       
  

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

  75.8          78.5