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Earnings Per Share (Tables)
9 Months Ended
Sep. 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
September 30,

 

Nine Months Ended
September 30,

 

(in millions except share and per share amounts)

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

103.6

 

$

86.3

 

$

237.9

 

$

198.4

 

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

 

(19.6

)

(16.2

)

(52.7

)

(45.0

)

 

 

 

 

 

 

 

 

 

 

Undistributed earnings

 

84.0

 

70.1

 

185.2

 

153.4

 

Percent allocated to common shareholders (1)

 

99.5

%

99.5

%

99.5

%

99.5

%

 

 

 

 

 

 

 

 

 

 

 

 

83.6

 

69.7

 

184.3

 

152.6

 

Add: dividends declared - common stock

 

19.5

 

16.0

 

52.0

 

44.2

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic and diluted EPS

 

$

103.1

 

$

85.7

 

$

236.3

 

$

196.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator (in thousands):

 

 

 

 

 

 

 

 

 

Denominator for basic EPS: weighted-average common shares outstanding

 

64,970

 

64,149

 

64,952

 

64,043

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Performance awards

 

348

 

306

 

348

 

306

 

Stock options

 

669

 

992

 

752

 

966

 

 

 

 

 

 

 

 

 

 

 

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

 

65,987

 

65,447

 

66,052

 

65,315

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per share income from continuing operations:

 

 

 

 

 

 

 

 

 

Basic

 

$

1.59

 

$

1.34

 

$

3.64

 

$

3.07

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$

1.56

 

$

1.31

 

$

3.58

 

$

3.01

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)Basic weighted-average common shares outstanding

 

 

64,970

 

 

64,149

 

 

64,952

 

 

64,043

 

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

 

 

65,304

 

 

64,492

 

 

65,286

 

 

64,386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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
September 30,

 

Nine Months Ended
September 30,

 

(in millions)

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

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

 

$

 

$

1.0 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

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

 

$

103.1 

 

$

86.7 

 

$

236.3 

 

$

196.8