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Net Earnings Per Common Share | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
(In millions, except per share amounts) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Basic Net Earnings Per Common Share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Net earnings |  | $ | 134.0 |  |  | $ | 68.0 |  |  | $ | 360.7 |  |  | $ | 158.7 |
Distributed and allocated undistributed net earnings to unvested restricted stockholders |  | — |  |  | (0.1) |  |  | (0.1) |  |  | (0.3) |
Distributed and allocated undistributed net earnings |  | 134.0 |  |  | 67.9 |  |  | 360.6 |  |  | 158.4 |
Distributed net earnings - dividends paid to common stockholders |  | (24.9) |  |  | (24.6) |  |  | (74.6) |  |  | (74.1) |
Allocation of undistributed net earnings to common stockholders |  | $ | 109.1 |  |  | $ | 43.3 |  |  | $ | 286.0 |  |  | $ | 84.3 |
Denominator: |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  | 155.5 |  |  | 154.0 |  |  | 155.2 |  |  | 154.4 |
Basic net earnings per common share: |  |  |  |  |  |  |  |
Distributed net earnings |  | $ | 0.16 |  |  | $ | 0.16 |  |  | $ | 0.48 |  |  | $ | 0.48 |
Allocated undistributed net earnings to common stockholders |  | 0.70 |  |  | 0.28 |  |  | 1.84 |  |  | 0.55 |
Basic net earnings per common share |  | $ | 0.86 |  |  | $ | 0.44 |  |  | $ | 2.32 |  |  | $ | 1.03 |
Diluted Net Earnings Per Common Share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Distributed and allocated undistributed net earnings |  | $ | 134.0 |  |  | $ | 67.9 |  |  | $ | 360.6 |  |  | $ | 158.4 |
Add: Allocated undistributed net earnings to unvested restricted stockholders |  | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.2 |
Less: Undistributed net earnings reallocated to unvested restricted stockholders |  | — |  |  | (0.1) |  |  | (0.1) |  |  | (0.2) |
Net earnings available to common stockholders - diluted |  | $ | 134.0 |  |  | $ | 67.9 |  |  | $ | 360.6 |  |  | $ | 158.4 |
Denominator: |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding - basic |  | 155.5 |  |  | 154.0 |  |  | 155.2 |  |  | 154.4 |
Effect of unvested restricted stock - nonparticipating security |  | 0.1 |  |  | — |  |  | 0.1 |  |  | — |
Effect of contingently issuable shares |  | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Effect of unvested restricted stock units |  | 0.3 |  |  | 0.3 |  |  | 0.3 |  |  | 0.3 |
Weighted average number of common shares outstanding - diluted under two-class |  | 156.1 |  |  | 154.5 |  |  | 155.8 |  |  | 154.9 |
Effect of unvested restricted stock - participating security |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Weighted average number of common shares outstanding - diluted under treasury stock |  | 156.1 |  |  | 154.8 |  |  | 155.8 |  |  | 155.2 |
Diluted net earnings per common share |  | $ | 0.86 |  |  | $ | 0.44 |  |  | $ | 2.31 |  |  | $ | 1.02 |

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