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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2016
Earnings Per Share  
Component of income from continuing operations and share data used in basic and diluted earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

(in millions except share and per share amounts)

    

2016

    

2015

 

2014

 

Income from continuing operations

 

$
250.8

 

$
319.6

 

$
251.7

 

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

 

 
(84.5)

 

 
(72.3)

 

 
(61.2)

 

Undistributed earnings

 

 
166.3

 

 
247.3

 

 
190.5

 

Percent allocated to common shareholders (1)

 

 
99.3

%  

 
99.3

%  

 
99.5

%

 

 

 
165.0

 

 
245.6

 

 
189.5

 

Add: dividends declared - common stock

 

 
83.6

 

 
71.4

 

 
60.4

 

Income from continuing operations attributable to common shares

 

$
248.6

 

$
317.0

 

$
249.9

 

 

 

 

 

 

 

 

 

 

 

 

Shares (in thousands):

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding 

 

 
64,226

 

 
64,844

 

 
64,170

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

Performance awards

 

 
257

 

 
253

 

 
362

 

Stock options

 

 
400

 

 
707

 

 
772

 

Adjusted weighted-average common shares outstanding and assumed conversion

 

 
64,883

 

 
65,804

 

 
65,304

 

 

 

 

 

 

 

 

 

 

 

 

Per share income from continuing operations:

 

 

 

 

 

 

 

 

 

 

Basic

 

$
3.87

 

$
4.89

 

$
3.89

 

Diluted

 

$
3.83

 

$
4.82

 

$
3.83

 

 

 

 

 

 

 

 

 

 

 

 

(1) Basic weighted-average common shares outstanding

 

 
64,226

 

 
64,844

 

 
64,170

 

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

 

 
64,682

 

 
65,304

 

 
64,512

 

Percent allocated to common shareholders

 

 
99.3

%  

 
99.3

%

 
99.5

%

 

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

 

 

 

 

 

 

 

 

 

 

 

(in millions except share amounts presented in thousands)

    

2016

    

2015

 

2014

(Loss) income from discontinued operations

 

$
(0.7)

 

$
0.1

 

$
(0.4)

 

 

 

 

 

 

 

 

 

 

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

 

$
248.0

 

$
317.1

 

$
249.5

 

 

 

 

 

 

 

 

 

 

Anti-dilutive stock options excluded from EPS calculation (1)

 

 
23.1

 

 
257.5

 

 

 -

 

Represents stock options excluded from the calculation of diluted earnings per share as such options’ assumed proceeds upon exercise would result in the repurchase of more shares than the underlying award.