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COMMON EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Schedule of stock-based compensation awards granted | During the six months ended June 30, 2026, the Compensation Committee of our Board of Directors awarded the following stock-based compensation to our directors, officers, and certain other key employees:
Award Type |  | Number of Awards
Stock options (1) |  | 269,085 |
Restricted shares (2) |  | 75,222 |
Performance units |  | 182,146 |
(1)Stock options awarded had a weighted-average exercise price of $106.09 and a weighted-average grant date fair value of $21.20 per option. (2)Restricted shares awarded had a weighted-average grant date fair value of $106.09 per share.
Schedule of Forward Contracts Indexed to Issuer's Equity | The following table presents information related to the common stock sold under our outstanding forward sales contracts at June 30, 2026:
Forward Sale Contract Effective Date |  | Maturity Date |  | Shares |  | Initial Forward Price (1)
Fourth quarter - 2025 |  | June 30, 2027 |  | 58,533 |  |  | $ | 110.7748 |
First quarter - 2026 |  | September 30, 2027 |  | 3,726,090 |  |  | 114.8548 |
Second quarter - 2026 |  | December 31, 2027 |  | 2,607,398 |  |  | 111.4073 |
(1)Amount represents the weighted-average initial forward price of the forward sales contracts that became effective during the quarter. The initial forward price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts as specified in the contract. At June 30, 2026, we could have settled our outstanding forward sales contracts as follows:
(Dollars in millions) |  | Physical Share Settlement |  | Net Settlement
Forward Sale Contract Effective Date |  | Cash Proceeds |  | Cash Payments |  | Shares Issued
Fourth quarter - 2025 |  | $ | 6.5 |  |  | $ | (0.4) |  |  | (3,045) |
First quarter - 2026 |  | 428.3 |  |  | (6.8) |  |  | (57,815) |
Second quarter - 2026 |  | 290.8 |  |  | (13.6) |  |  | (116,720) |
Schedule of Common Stock Outstanding Roll Forward | We had the following changes to our outstanding common stock during the three and six months ended June 30, 2026 and 2025:
|  | Three Months Ended June 30 |  | Six Months Ended June 30
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Common stock shares outstanding at beginning of period |  | 325,725,678 |  |  | 319,133,501 |  |  | 325,461,519 |  |  | 317,680,855 |
Shares issued: |  |  |  |  |  |  |  |
At-the-market offering program |  | — |  |  | 2,526,543 |  |  | — |  |  | 3,504,367 |
Stock-based compensation |  | 23,102 |  |  | 47,403 |  |  | 174,312 |  |  | 390,114 |
401(k) |  | 16,340 |  |  | 71,800 |  |  | 47,274 |  |  | 115,100 |
Stock investment plan |  | 84,263 |  |  | 87,148 |  |  | 166,278 |  |  | 175,959 |
Common stock shares outstanding at end of period |  | 325,849,383 |  |  | 321,866,395 |  |  | 325,849,383 |  |  | 321,866,395 |
Schedule of Earnings Per Share, Basic and Diluted | The following table shows the computation of our basic and diluted EPS for the three and six months ended June 30, 2026 and 2025:
|  | Three Months Ended June 30 |  | Six Months Ended June 30
(in millions) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Numerator: |  |  |  |  |  |  |  |
Net income attributed to common shareholders |  | $ | 299.2 |  |  | $ | 245.4 |  |  | $ | 1,103.6 |  |  | $ | 969.6 |
Denominator: |  |  |  |  |  |  |  |
Weighted average basic shares outstanding |  | 325.8 |  | 320.3 |  | 325.7 |  | 319.3
Dilutive effect of stock-based compensation awards |  | 0.6 |  |  | 0.6 |  |  | 0.6 |  |  | 0.5 |
Dilutive effect of convertible senior notes |  | 2.4 |  |  | 1.3 |  |  | 2.3 |  |  | 0.9 |
Dilutive effect of forward equity sales contracts |  | 0.1 |  |  | — |  |  | — |  |  | — |
Weighted average diluted shares |  | 328.9 |  |  | 322.2 |  |  | 328.6 |  |  | 320.7 |
Basic EPS |  | $ | 0.92 |  |  | $ | 0.77 |  |  | $ | 3.39 |  |  | $ | 3.04 |
Diluted EPS |  | $ | 0.91 |  |  | $ | 0.76 |  |  | $ | 3.36 |  |  | $ | 3.02 |

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- Definition Tabular disclosure of freestanding forward contracts issued by an entity that are indexed to, and potentially settled in an entity's own stock. The disclosure may include, but not be limited to: (i) the forward rate and the number of shares to which the contract is indexed, (ii) the settlement date or dates of the contract, (iii) the issuer's accounting for the contract, (iv) settlement alternatives (if applicable) including who controls the settlement alternatives and the maximum number of shares that could be required to be issued to net share settle the contract (if applicable), (v) the fact that a potentially infinite number of shares may be required to be issued to settle the contract, if a contract does not have a stated fixed or determinable maximum number of shares, and (vi) the contract's current fair value for each settlement alternative and how changes in the price of the issuer's equity instruments affect those settlement amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 + Details
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