Earnings Per Share Of Common Stock

3 Months Ended

Mar. 31, 2016

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)	For the Three Months Ended March 31
Reconciliation of Basic and Diluted Earnings per Share of Common Stock	2016		2015


Net income	$	328	$	222

Weighted average number of basic shares outstanding	424		421
Assumed exercise of dilutive stock options and awards⁽¹⁾	2		2
Weighted average number of diluted shares outstanding	426		423

Basic earnings per share of common stock	$	0.78	$	0.53
Diluted earnings per share of common stock	$	0.77	$	0.53


⁽¹⁾	For both the three months ended March 31, 2016 and March 31, 2015, one million shares were excluded from the calculation of diluted shares outstanding, as their inclusion would be antidilutive.