Earnings Per Share Of Common Stock

9 Months Ended

Sep. 30, 2021

Basic EPS is computed using the weighted average number of common shares outstanding during the relevant period as the denominator. The denominator for diluted EPS 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.

Diluted EPS reflects the dilutive effect of potential common shares from share-based awards. The dilutive effect of outstanding share-based awards was computed using the treasury stock method, which assumes any proceeds that could be obtained upon the exercise of the award would be used to purchase common stock at the average market price for the period.

The following table reconciles basic and diluted EPS of common stock:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Reconciliation of Basic and Diluted EPS	2021		2020		2021		2020

(In millions, except per share amounts)

Income from continuing operations	$	416	$	460	$	809	$	791




Discontinued operations, net of tax	47		(6)		47		46


Net Income	$	463	$	454	$	856	$	837





Share count information:
Weighted average number of basic shares outstanding	544		542		544		542
Assumed exercise of dilutive stock options and awards	1		1		1		1

Weighted average number of diluted shares outstanding	545		543		545		543

Earnings (Loss) Per Share of Common Stock:

Income from continuing operations, basic	$	0.76	$	0.85	$	1.48	$	1.46
Discontinued operations, basic	0.09		(0.01)		0.09		0.08
Basic earnings per share of common stock	$	0.85	$	0.84	$	1.57	$	1.54

Income from continuing operations, diluted	$	0.76	$	0.85	$	1.48	$	1.46
Discontinued operations, diluted	0.09		(0.01)		0.09		0.08
Diluted earnings per share of common stock	$	0.85	$	0.84	$	1.57	$	1.54