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Net Earnings Per Common Share | 6 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Net Earnings Per Common Share | Net Earnings Per Common Share The following table shows the calculation of basic and diluted net earnings per common share under the two-class method:
|  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(In millions, except per share amounts) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Basic Net Earnings Per Common Share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net earnings |  | $ | 100.1 |  |  | $ | 33.2 |  |  | $ | 226.7 |  |  | $ | 90.7 |
Distributed and allocated undistributed net earnings to unvested restricted stockholders |  | — |  |  | (0.1) |  |  | (0.1) |  |  | (0.2) |
Distributed and allocated undistributed net earnings |  | 100.1 |  |  | 33.1 |  |  | 226.6 |  |  | 90.5 |
Distributed net earnings - dividends paid to common stockholders |  | (24.9) |  |  | (24.6) |  |  | (49.7) |  |  | (49.4) |
Allocation of undistributed net earnings to common stockholders |  | $ | 75.2 |  |  | $ | 8.5 |  |  | $ | 176.9 |  |  | $ | 41.1 |
Denominator: |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  | 155.6 |  |  | 154.5 |  |  | 155.1 |  |  | 154.6 |
Basic net earnings per common share: |  |  |  |  |  |  |  |
Distributed net earnings |  | $ | 0.16 |  |  | $ | 0.16 |  |  | $ | 0.32 |  |  | $ | 0.32 |
Allocated undistributed net earnings to common stockholders |  | 0.48 |  |  | 0.06 |  |  | 1.14 |  |  | 0.27 |
Basic net earnings per common share |  | $ | 0.64 |  |  | $ | 0.22 |  |  | $ | 1.46 |  |  | $ | 0.59 |
Diluted Net Earnings Per Common Share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Distributed and allocated undistributed net earnings |  | $ | 100.1 |  |  | $ | 33.1 |  |  | $ | 226.6 |  |  | $ | 90.5 |
Add: Allocated undistributed net earnings to unvested restricted stockholders |  | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Less: Undistributed net earnings reallocated to unvested restricted stockholders |  | — |  |  | — |  |  | (0.1) |  |  | (0.1) |
Net earnings available to common stockholders - diluted |  | $ | 100.1 |  |  | $ | 33.1 |  |  | $ | 226.6 |  |  | $ | 90.5 |
Denominator: |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  | 155.6 |  |  | 154.5 |  |  | 155.1 |  |  | 154.6 |
Effect of contingently issuable shares |  | 0.1 |  |  | 0.3 |  |  | 0.1 |  |  | 0.2 |
Effect of unvested restricted stock units |  | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Weighted average number of common shares outstanding - diluted under two-class |  | 155.9 |  |  | 155.0 |  |  | 155.4 |  |  | 155.0 |
Effect of unvested restricted stock - participating security |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Weighted average number of common shares outstanding - diluted under treasury stock |  | 155.9 |  |  | 155.3 |  |  | 155.4 |  |  | 155.3 |
Diluted net earnings per common share |  | $ | 0.64 |  |  | $ | 0.21 |  |  | $ | 1.46 |  |  | $ | 0.58 |

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