Earnings Per Share

3 Months Ended

Mar. 31, 2014

The calculation of basic earnings per share is based on the weighted average number of shares of the Company's common stock outstanding during the period. Diluted earnings per share is similar to basic earnings per share, but adjusts for the dilutive effect of the potential issuance of incremental shares of the Company's common stock. The following is a reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share available to common stockholders.



	For the Three Months Ended March 31,
	2013		2014
Numerator
Net income (controlling interest)	$	62.4	$	77.2
Denominator
Average shares outstanding—basic	52.7		53.7
Effect of dilutive instruments:
Stock options and restricted stock	1.3		1.3
Forward equity	0.2		0.2
Average shares outstanding—diluted	54.2		55.2

The diluted earnings per share calculations in the table above exclude the anti-dilutive effect of the following shares:



	For the Three Months Ended March 31,
	2013	2014
Stock options and restricted stock	0.0	0.3
Senior convertible securities	3.6	—
Junior convertible trust preferred securities	4.2	3.7

- Definition

The entire disclosure for earnings per share.

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