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Earnings per Share (EPS) (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Allocation Method Utilized in the Calculation of Basic and Diluted EPS | The following illustrates the earnings allocation method utilized in the calculation of basic and diluted EPS.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In millions, except per share data)
Basic EPS numerator: |  |  |  |  |  |  |
Income from continuing operations, net of income taxes | $ | 112.5 |  |  | $ | 128.8 |  |  | $ | 369.0 |  |  | $ | 617.0 |
Less: Net income attributable to noncontrolling interests | 10.2 |  |  | 11.4 |  |  | 25.4 |  |  | 49.3 |
Income from continuing operations attributable to common stockholders | 102.3 |  |  | 117.4 |  |  | 343.6 |  |  | 567.7 |
(Loss) income from discontinued operations, net of income taxes | (1.0) |  |  | 2.5 |  |  | (3.3) |  |  | (0.1) |
Net income attributable to common stockholders | $ | 101.3 |  |  | $ | 119.9 |  |  | $ | 340.3 |  |  | $ | 567.6 |
Diluted EPS numerator: |  |  |  |  |  |  |
Income from continuing operations, net of income taxes | $ | 112.5 |  |  | $ | 128.8 |  |  | $ | 369.0 |  |  | $ | 617.0 |
Add: Tax adjusted interest expense related to 2028 Convertible Notes | 3.1 |  |  | 3.0 |  |  | 9.2 |  |  | 9.1 |
Less: Net income attributable to noncontrolling interests | 10.2 |  |  | 11.4 |  |  | 25.4 |  |  | 49.3 |
Income from continuing operations attributable to common stockholders | 105.4 |  |  | 120.4 |  |  | 352.8 |  |  | 576.8 |
(Loss) income from discontinued operations, net of income taxes | (1.0) |  |  | 2.5 |  |  | (3.3) |  |  | (0.1) |
Net income attributable to common stockholders | $ | 104.4 |  |  | $ | 122.9 |  |  | $ | 349.5 |  |  | $ | 576.7 |
EPS denominator: |  |  |  |  |  |  |
Weighted average shares outstanding — basic | 124.9 |  |  | 133.2 |  |  | 126.3 |  |  | 140.0 |
Dilutive impact of share-based compensation awards | 0.4 |  |  | 0.6 |  |  | 0.5 |  |  | 0.6 |
Dilutive impact of 2028 Convertible Notes | 16.3 |  |  | 16.1 |  |  | 16.3 |  |  | 16.1 |
Weighted average shares outstanding — diluted | 141.6 |  |  | 149.9 |  |  | 143.1 |  |  | 156.7 |
Basic EPS attributable to common stockholders: |  |  |  |  |  |  |
Income from continuing operations | $ | 0.82 |  |  | $ | 0.88 |  |  | $ | 2.72 |  |  | $ | 4.06 |
(Loss) income from discontinued operations | (0.01) |  |  | 0.02 |  |  | (0.03) |  |  | (0.01) |
Net income attributable to common stockholders | $ | 0.81 |  |  | $ | 0.90 |  |  | $ | 2.69 |  |  | $ | 4.05 |
Diluted EPS attributable to common stockholders: |  |  |  |  |  |  |
Income from continuing operations | $ | 0.74 |  |  | $ | 0.80 |  |  | $ | 2.47 |  |  | $ | 3.68 |
(Loss) income from discontinued operations | — |  |  | 0.02 |  |  | (0.03) |  |  | — |
Net income attributable to common stockholders | $ | 0.74 |  |  | $ | 0.82 |  |  | $ | 2.44 |  |  | $ | 3.68 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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