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Earnings Per Share
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share
12.
 
EARNINGS PER SHARE
Basic earnings per share is determined by dividing net income attributable to common shareholders by
the weighted average number of common shares outstanding during the period. Diluted EPS is computed
by dividing net income attributable to common shareholders by the weighted average number of common
shares outstanding during the period, adjusted for the exercise and/or conversion of all potentially dilutive
securities. Such dilutive items include Company contributions to the senior management stock option
plan, convertible debentures and shares issued under the DRIP.
The following table reconciles the computation of basic and diluted earnings per share:
For the
Year ended December 31
millions of dollars (except per share amounts)
2023
2022
Numerator
Net income attributable to common shareholders
$
 
977.7
$
 
945.1
Diluted numerator
 
977.7
 
945.1
Denominator
Weighted average shares of common stock outstanding – basic
 
273.6
 
265.5
Stock-based compensation
 
 
0.2
 
0.4
Weighted average shares of common stock outstanding – diluted
 
273.8
 
265.9
Earnings per common share
Basic
 
$
 
3.57
$
 
3.56
Diluted
$
 
3.57
$
 
3.55