Earnings per Common Share

12 Months Ended

Dec. 31, 2016

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:

	2016		2015		2014
(dollars and shares in millions)
EPS Numerator:
Net income attributable to common shareholders	$	531.4	$	135.4	$	294.5
Less: Income allocated to participating securities		2.6		1.9		4.8
Net income available to common shareholders	$	528.8	$	133.5	$	289.7
EPS Denominator:
Weighted average common shares outstanding		74.0		74.1		75.6
Dilutive common share equivalents from share-based compensation plans		1.2		1.3		1.5
Weighted average common and common equivalent shares outstanding, assuming dilution		75.2		75.4		77.1