EARNINGS PER SHARE

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Amounts attributable to Quest Diagnostics’ stockholders:
Income from continuing operations	$	129	$	403	$	366	$	671
Income from discontinued operations, net of taxes	—		2		—		35
Net income attributable to Quest Diagnostics’ common stockholders	$	129	$	405	$	366	$	706
Income from continuing operations	$	129	$	403	$	366	$	671
Less: Earnings allocated to participating securities	1		1		2		2
Earnings available to Quest Diagnostics’ common stockholders – basic and diluted	$	128	$	402	$	364	$	669
Weighted average common shares outstanding – basic	145		150		144		153
Effect of dilutive securities:
Stock options and performance share units	—		1		1		2
Weighted average common shares outstanding – diluted	145		151		145		155
Earnings per share attributable to Quest Diagnostics’ common stockholders – basic:
Income from continuing operations	$	0.89	$	2.68	$	2.52	$	4.36
Income from discontinued operations	—		0.02		—		0.23
Net income	$	0.89	$	2.70	$	2.52	$	4.59
Earnings per share attributable to Quest Diagnostics’ common stockholders – diluted:
Income from continuing operations	$	0.88	$	2.66	$	2.51	$	4.32
Income from discontinued operations	—		0.02		—		0.23
Net income	$	0.88	$	2.68	$	2.51	$	4.55

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 September 30,		Nine Months Ended September 30,
	2014	2013	2014	2013
Stock options and performance share units	—	2	3	2