v3.22.2.2
Earnings Per Common Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net Income, Weighted Average Common Shares Used in Calculating Basic Earnings Per Common Share and Diluted EPS
The following table presents net income, the weighted average common shares used in calculating basic EPS and those used in calculating diluted EPS for each period presented below. Diluted EPS reflects the incremental common shares from: (1) common shares issuable upon vesting of performance share units (“PSUs”) and the purchase of shares under the Employee Stock Purchase Plan (the “ESPP”) using the treasury stock method; and (2) common shares issuable upon the conversion of the MCPS using the if-converted method. The outstanding restricted stock units (“RSUs”) have non-forfeitable rights to dividend equivalents and are therefore included in calculating basic and diluted EPS under the two-class method.
 Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Numerator
Net income from continuing operations$7.3 $151.0 $208.5 $478.9 
Less: Preferred stock dividends— — — (4.7)
Net income from continuing operations attributable to common stockholders7.3 151.0 208.5 474.2 
Less: Common stock dividends paid(36.7)(38.5)(112.7)(118.5)
Undistributed earnings$(29.4)$112.5 $95.8 $355.7 
Net income from continuing operations attributable to common stockholders$7.3 $151.0 $208.5 $474.2 
Add: Net income from discontinued operations— 728.8 — 762.0 
Net income attributable to common stockholders$7.3 $879.8 $208.5 $1,236.2 
Denominator
Weighted average common shares outstanding used in basic per common share calculations53,717,373 59,126,313 54,693,799 59,769,690 
Incremental common shares from:
PSUs345,887 352,918 425,887 371,793 
ESPP3,345 233 5,164 — 
MCPS— — — 713,838 
Weighted average common shares outstanding used in diluted per common share calculations54,066,605 59,479,464 55,124,850 60,855,321 
Earnings per common share - Basic
Distributed earnings$0.68 $0.65 $2.06 $1.98 
Undistributed earnings(0.54)1.91 1.75 5.96 
Net income from continuing operations0.14 2.56 3.81 7.94 
Net income from discontinued operations— 12.32 — 12.74 
Net income attributable to common stockholders$0.14 $14.88 $3.81 $20.68 
Earnings per common share - Diluted
Distributed earnings$0.68 $0.65 $2.04 $1.95 
Undistributed earnings(0.54)1.89 1.74 5.92 
Net income from continuing operations0.14 2.54 3.78 7.87 
Net income from discontinued operations— 12.25 — 12.52 
Net income attributable to common stockholders$0.14 $14.79 $3.78 $20.39