v3.26.3
COMMON EQUITY (Tables)
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Schedule of stock-based compensation awards granted
During the nine months ended September 30, 2026, the Compensation Committee of our Board of Directors awarded the following stock-based compensation to our directors, officers, and certain other key employees:
Award TypeNumber of Awards
Stock options (1)
269,085 
Restricted shares (2)
75,222 
Performance units182,146 

(1)Stock options awarded had a weighted-average exercise price of $106.09 and a weighted-average grant date fair value of $21.20 per option.

(2)Restricted shares awarded had a weighted-average grant date fair value of $106.09 per share.
Schedule of Forward Contracts Indexed to Issuer's Equity The following table presents information related to the common stock sold under our outstanding forward sales contracts at September 30, 2026:
Forward Sale Contract Effective DateMaturity DateShares
Initial Forward Price (1)
First quarter - 2026September 30, 2027757,000 $114.0796 
Second quarter - 2026December 31, 20272,607,398 111.4073 
Third quarter - 2026March 31, 20283,644,019 106.4837 

(1)Amount represents the weighted-average initial forward price of the forward sales contracts that became effective during the quarter. The initial forward price is subject to adjustment on a daily basis based on a floating interest rate factor and will decrease by other fixed amounts as specified in the contract.
At September 30, 2026, we could have settled our outstanding forward sales contracts as follows:
(Dollars in millions)Physical Share SettlementNet Settlement
Forward Sale Contract Effective DateCash ProceedsCash ProceedsShares Received
First quarter - 2026$86.3 $10.0 99,328 
Second quarter - 2026290.5 27.7 275,004 
Third quarter - 2026387.6 20.3 201,862 
Schedule of Common Stock Outstanding Roll Forward
We had the following changes to our outstanding common stock during the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30Nine Months Ended September 30
2026202520262025
Common stock shares outstanding at beginning of period325,849,383 321,866,395 325,461,519 317,680,855 
Shares issued:
At-the-market offering program3,027,623 3,075,416 3,027,623 6,579,783 
Stock-based compensation 10,987 196,997 185,299 587,111 
401(k)18,437 70,200 65,711 185,300 
Stock investment plan85,899 85,244 252,177 261,203 
Common stock shares outstanding at end of period328,992,329 325,294,252 328,992,329 325,294,252 
Schedule of Earnings Per Share, Basic and Diluted
The following table shows the computation of our basic and diluted EPS for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30Nine Months Ended September 30
(in millions)2026202520262025
Numerator:
Net income attributed to common shareholders$389.3 $271.3 $1,492.9 $1,240.9 
Denominator:
Weighted average basic shares outstanding326.6323.5326.0320.7
Dilutive effect of stock-based compensation awards0.5 0.5 0.5 0.5 
Dilutive effect of convertible senior notes1.7 1.6 2.1 1.2 
Dilutive effect of forward equity sales contracts— — 0.1 — 
Weighted average diluted shares328.8 325.6 328.7 322.4 
Basic EPS$1.19 $0.84 $4.58 $3.87 
Diluted EPS$1.18 $0.83 $4.54 $3.85