WEIGHTED AVERAGE SHARES OUTSTANDING

3 Months Ended

Mar. 31, 2016

WEIGHTED AVERAGE SHARES OUTSTANDING

NOTE 4. WEIGHTED AVERAGE SHARES OUTSTANDING

Below is a reconciliation of basic to diluted shares outstanding:

		Three Months Ended
		March 31,
		2016		2015
Basic			195.0		202.7
	Dilutive effect of shares issuable under stock-based compensation plans		2.9		3.8
Diluted			197.9		206.5
Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock excluded from the table above			1.5		1.0

The calculation of diluted EPS requires certain assumptions regarding the use of both cash proceeds and assumed proceeds that would be received upon the exercise of stock options and vesting of restricted stock outstanding as of March 31, 2016 and 2015. These assumed proceeds include Excess Tax Benefits and any unrecognized compensation of the awards.

The decrease in the diluted shares outstanding primarily reflects treasury share repurchases under the Company’s Board authorized share repurchase program.