EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2014

Earnings Per Share, Basic and Diluted [Abstract]

EARNINGS (LOSS) PER SHARE

EARNINGS PER SHARE

The computation of basic and diluted earnings per common share was as follows (in millions, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Amounts attributable to Quest Diagnostics’ stockholders:
Income from continuing operations	$	133	$	152	$	237	$	268
Income from discontinued operations, net of taxes	—		13		—		33
Net income attributable to Quest Diagnostics’ common stockholders	$	133	$	165	$	237	$	301
Income from continuing operations	$	133	$	152	$	237	$	268
Less: Earnings allocated to participating securities	—		—		1		1
Earnings available to Quest Diagnostics’ common stockholders – basic and diluted	$	133	$	152	$	236	$	267
Weighted average common shares outstanding – basic	144		153		144		155
Effect of dilutive securities:
Stock options and performance share units	1		1		1		2
Weighted average common shares outstanding – diluted	145		154		145		157
Earnings per share attributable to Quest Diagnostics’ common stockholders – basic:
Income from continuing operations	$	0.92	$	0.99	$	1.64	$	1.72
Income from discontinued operations	—		0.08		—		0.21
Net income	$	0.92	$	1.07	$	1.64	$	1.93
Earnings per share attributable to Quest Diagnostics’ common stockholders – diluted:
Income from continuing operations	$	0.92	$	0.99	$	1.63	$	1.71
Income from discontinued operations	—		0.08		—		0.21
Net income	$	0.92	$	1.07	$	1.63	$	1.92

The following securities were not included in the calculation of diluted earnings per share due to their antidilutive effect (shares in millions):

	Three Months Ended June 30,		Six Months Ended June 30,
	2014	2013	2014	2013
Stock options and performance share units	3	1	4	2