Earnings Per Share

9 Months Ended

Sep. 30, 2015

EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period, including outstanding unvested restricted stock awards and vested restricted stock unit awards. Diluted EPS is computed by dividing net income by the weighted average number of shares outstanding, noted above, adjusted for the dilutive effect of stock options.

The following table presents the calculation of basic and diluted EPS:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Net income from continuing operations	$	119.0		$	106.7		$	345.9		$	302.9
Loss from discontinued operations, net of income taxes	(0.5		)	(0.2		)	(0.8		)	(0.9		)
Net income	$	118.5		$	106.5		$	345.1		$	302.0

Weighted average common shares outstanding used in calculating basic EPS	112.4			117.0			113.3			118.5
Effect of dilutive stock options	1.2			1.5			1.3			1.7
Weighted average common shares outstanding used in calculating diluted EPS	113.6			118.5			114.6			120.2

Basic EPS amounts⁽¹⁾:
Continuing operations	$	1.06		$	0.91		$	3.05		$	2.56
Discontinued operations	$	—		$	—		$	(0.01	)	$	(0.01	)
Net income	$	1.05		$	0.91		$	3.05		$	2.55

Diluted EPS amounts⁽¹⁾:
Continuing operations	$	1.05		$	0.90		$	3.02		$	2.52
Discontinued operations	$	—		$	—		$	(0.01	)	$	(0.01	)
Net income	$	1.04		$	0.90		$	3.01		$	2.51
⁽¹⁾ Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.

A summary of anti-dilutive options excluded from the computation of diluted earnings per share is as follows:



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2015	2014	2015	2014
Anti-dilutive options excluded from the computation of diluted earnings per share	0.9	0.7	0.7	0.5