Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE OF COMMON STOCK

EARNINGS PER SHARE OF COMMON STOCK

Basic earnings per share of common stock are computed using the weighted average number of common shares outstanding during the relevant period as the denominator. The denominator for diluted earnings per share of common stock reflects the weighted average of common shares outstanding plus the potential additional common shares that could result if dilutive securities and other agreements to issue common stock were exercised.

The following table reconciles basic and diluted earnings per share of common stock:

(In millions, except per share amounts)	Three Months Ended March 31
Reconciliation of Basic and Diluted Earnings per Share of Common Stock	2013		2012
Weighted average number of basic shares outstanding	418		418
Assumed exercise of dilutive stock options and awards(1)	1		2
Weighted average number of diluted shares outstanding	419		420
Net Income	$	196	$	306
Basic earnings per share of common stock	$	0.47	$	0.73
Diluted earnings per share of common stock	$	0.47	$	0.73

⁽¹⁾  The number of potentially dilutive securities not included in the calculation of diluted shares outstanding due to their antidilutive effect were not significant for the three months ended March 31, 2013 and 2012.