Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Component of income from continuing operations and share data used in basic and diluted earnings per share

Income from continuing operations and share data used in the basic and diluted earnings per share computations using the two‑class method follows:



(in millions except share and per share amounts)	2018			2017			2016
Income from continuing operations	$	358.6		$	340.6		$	231.1
Less: dividends declared	(93.5		)	(92.1		)	(84.5		)
Undistributed earnings	265.1			248.5			146.6
Percent allocated to common shareholders⁽¹⁾	99.7		%	99.3		%	99.3		%
	264.3			246.8			145.6
Add: dividends declared to common shares, restricted share units and vested and deferred restricted and performance shares	93.1			90.9			83.6
Income from continuing operations attributable to common shareholders	$	357.4		$	337.7		$	229.2

Shares (in thousands):
Basic weighted-average shares outstanding	60,393			63,073			64,226
Effect of dilutive securities:
Performance awards	83			137			257
Stock options	310			341			400
Diluted weighted-average shares outstanding	60,786			63,551			64,883

Per share income from continuing operations attributable to common shares:
Basic	$	5.92		$	5.36		$	3.57
Diluted	$	5.88		$	5.32		$	3.53

⁽¹⁾Basic weighted-average shares outstanding (in thousands)	60,393			63,073			64,226
Basic weighted-average shares outstanding and unvested restricted shares expected to vest (in thousands)	60,561			63,513			64,682
Percent allocated to common shareholders	99.7		%	99.3		%	99.3		%

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

To calculate earnings per share for income from discontinued operations and for net income, the denominator for both basic and diluted earnings per share is the same as used in the above table.



(in millions except share amounts presented in thousands)	2018		2017		2016
Income from discontinued operations attributable to common shareholders for basic and dilutive earnings per share	$	251.8	$	24.8	$	18.8
Net income attributable to common shareholders for basic and diluted earnings per share	$	609.2	$	362.4	$	248.0
Anti-dilutive stock options excluded from EPS calculation⁽¹⁾	813.0		320.6		23.1

⁽¹⁾

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.