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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2015
Earnings Per Share  
Component of income from continuing operations and share data used in basic and diluted earnings per share

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

(in millions except share and per share amounts)

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

94.8

 

$

75.7

 

$

134.3

 

$

112.1

 

Less: dividends declared - common stock outstanding, restricted shares and restricted share units

 

(16.4

)

(14.6

)

(33.1

)

(28.8

)

 

 

 

 

 

 

 

 

 

 

Undistributed earnings

 

78.4

 

61.1

 

101.2

 

83.3

 

Percent allocated to common shareholders (1)

 

99.5

%

99.5

%

99.5

%

99.5

%

 

 

 

 

 

 

 

 

 

 

 

 

78.0

 

60.8

 

100.7

 

82.9

 

Add: dividends declared - common stock

 

16.3

 

14.1

 

32.5

 

28.2

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic and diluted EPS

 

$

94.3

 

$

74.9

 

$

133.2

 

$

111.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator (in thousands):

 

 

 

 

 

 

 

 

 

Denominator for basic EPS: weighted-average common shares outstanding

 

65,010

 

64,100

 

64,943

 

63,990

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Performance awards

 

342

 

364

 

342

 

364

 

Stock options

 

666

 

977

 

648

 

975

 

 

 

 

 

 

 

 

 

 

 

Denominator for diluted EPS: adjusted weighted-average common shares outstanding and assumed conversion

 

66,018

 

65,441

 

65,933

 

65,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per share income from continuing operations:

 

 

 

 

 

 

 

 

 

Basic

 

$

1.45

 

$

1.17

 

$

2.05

 

$

1.73

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$

1.43

 

$

1.15

 

$

2.02

 

$

1.70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)Basic weighted-average common shares outstanding

 

65,010 

 

64,100 

 

64,943 

 

63,990 

 

Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units

 

65,344 

 

64,444 

 

65,276 

 

64,333 

 

 

 

 

 

 

 

 

 

 

 

Percent allocated to common shareholders

 

99.5 

%

99.5 

%

99.5 

%

99.5 

%

 

 

 

 

 

 

 

 

 

 

Component of income (loss) from discontinued operations and share data used in basic and diluted earnings per share

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

(in millions)

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations attributable to common shareholders for basic and diluted earnings per share

 

$

0.1

 

$

(0.5

)

$

 

$

(1.1

)

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders for basic and diluted earnings per share

 

$

94.4

 

$

74.4

 

$

133.2

 

$

110.0