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Net Income Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Net Income Per Share | NOTE 4 Net Income Per Share Basic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the issuance of all potentially issuable common shares. The dilutive effect of potentially issuable common shares is computed by application of the treasury stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
(in millions, except per share data) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Net income |  | $ | 175.9 |  |  | $ | 161.1 |  |  | $ | 601.8 |  |  | $ | 526.6 |
Net income attributable to unvested awarded performance stock |  |  | (2.6 | ) |  |  | (2.9 | ) |  |  | (9.4 | ) |  |  | (10.1 | )
Net income attributable to common shares |  | $ | 173.3 |  |  | $ | 158.2 |  |  | $ | 592.4 |  |  | $ | 516.5 |
Weighted average number of common shares outstanding – basic |  |  | 284.1 |  |  |  | 283.0 |  |  |  | 283.7 |  |  |  | 282.7 |
Less unvested awarded performance stock included in weighted average number of common shares outstanding – basic |  |  | (4.2 | ) |  |  | (5.2 | ) |  |  | (4.4 | ) |  |  | (5.4 | )
Weighted average number of common shares outstanding for basic net income per common share |  |  | 279.9 |  |  |  | 277.8 |  |  |  | 279.3 |  |  |  | 277.3 |
Dilutive effect of potentially issuable common shares |  |  | 1.4 |  |  |  | 0.9 |  |  |  | 1.1 |  |  |  | 1.2 |
Weighted average number of shares outstanding – diluted |  |  | 281.3 |  |  |  | 278.7 |  |  |  | 280.4 |  |  |  | 278.5 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.62 |  |  | $ | 0.57 |  |  | $ | 2.12 |  |  | $ | 1.86 |
Diluted |  | $ | 0.62 |  |  | $ | 0.57 |  |  | $ | 2.11 |  |  | $ | 1.85 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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