Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of our basic and diluted EPS available to shareholders of common stock (excluding participating securities):



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
	(in millions, except per share data)
Numerator
Net income	$	71.0		$	58.6		$	132.1		$	111.8
Less: Net income attributable to participating securities	(1.7		)	(1.4		)	(3.0		)	(2.6		)
Net income attributable to common shareholders - Basic	$	69.3		$	57.2		$	129.1		$	109.2
Undistributed earnings reallocated to common shareholders under two step dilutive method	—			—			—			—
Net income attributable to common shareholders - Dilutive	$	69.3		$	57.2		$	129.1		$	109.2

Denominators
Basic common shares outstanding -
Weighted-average shares outstanding	78.3			77.8			78.1			77.7
Less: Participating securities	(1.8		)	(1.9		)	(1.8		)	(1.9		)
Weighted-average common shares outstanding	76.5			75.9			76.3			75.8

Effect of dilutive securities -
Dilutive stock-based compensation	0.4			0.4			0.4			0.4

Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions	76.9			76.3			76.7			76.2

Basic EPS	$	0.91		$	0.75		$	1.69		$	1.44

Diluted EPS	$	0.90		$	0.75		$	1.68		$	1.43

Certain exercisable stock options were excluded from the computations of diluted EPS because the exercise price of these options was greater than the average period market prices. The number of stock options outstanding, which were not included in the calculation of diluted EPS, was 0.2 million at both June 30, 2016 and June 30, 2015. The exercise price related to the excluded exercisable stock options was $26.02 at both June 30, 2016 and June 30, 2015.