The calculations of basic and diluted EPS are based on the weighted average number of shares of common stock and potential common stock outstanding during the period. Diluted EPS includes the incremental effects of the various long-term incentive compensation plans and ATM forward sale agreements under the treasury stock method when the impact would be dilutive (See Note 6, "Equity").

We use the two-class method of computing earnings per share because we have participating securities in the form of non-vested restricted stock units with a non-forfeitable right to dividend equivalents, for which vesting is predicated solely on the passage of time. The calculation of earnings per share using the two-class method excludes income attributable to these participating securities from the numerator and excludes the dilutive impact of those shares from the denominator.


	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2025		2024		2025		2024
Numerator:
Net Income Available to Common Shareholders	$	102.2	$	85.8	$	577.0	$	430.1
Less: Income allocated to participating securities	0.3		0.4		1.1		0.7
Net Income Available to Common Shareholders - Basic	101.9		85.4		575.9		429.4

Net Income Available to Common Shareholders - Diluted	$	101.9	$	85.4	$	575.9	$	429.4
Denominator:
Average common shares outstanding - Basic	471.0		448.5		470.6		448.2
Dilutive potential common shares:


Shares contingently issuable under employee stock plans	1.0		0.7		1.2		0.8
Shares restricted under employee stock plans	0.1		0.3		0.5		0.3
ATM forward sale agreements	—		0.7		—		0.5
Average Common Shares - Diluted	472.1		450.2		472.3		449.8
Earnings per common share:
Basic	$	0.22	$	0.19	1.22		0.96
Diluted	$	0.22	$	0.19	1.22		0.95