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Earnings per Common Share (Tables)
3 Months Ended
Mar. 31, 2016
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,
 
     2016      2015  
(dollars and shares in millions)              

EPS Numerator:

     

Net income

   $ 116.2       $ 139.8   

Less: Income allocated to participating securities

     0.6         2.1   
  

 

 

    

 

 

 

Net income available to common shareholders

   $ 115.6       $ 137.7   
  

 

 

    

 

 

 

EPS Denominator:

     

Weighted average common shares outstanding

     74.0         74.4   

Dilutive common share equivalents from share-based compensation plans

     1.2         1.4   
  

 

 

    

 

 

 

Weighted average common and common equivalent shares outstanding, assuming dilution

     75.2         75.8