WEIGHTED AVERAGE SHARES OUTSTANDING

9 Months Ended

Sep. 30, 2017

WEIGHTED AVERAGE SHARES OUTSTANDING

NOTE 4. WEIGHTED AVERAGE SHARES OUTSTANDING

Below is a reconciliation of basic to diluted shares outstanding:

		Three Months Ended				Nine months ended
		September 30,				September 30,
		2017		2016		2017		2016
Basic			191.1		191.7		191.1		193.3
	Dilutive effect of shares issuable under stock-based compensation plans		3.0		2.6		3.0		2.7
Diluted			194.1		194.3		194.1		196.0
Anti-dilutive options to purchase common shares and restricted stock as well as contingently issuable restricted stock which are excluded from the table above			0.5		0.5		0.6		0.9

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 September 30, 2017 and 2016. The assumed proceeds in 2017 do not include Excess Tax Benefits pursuant to the prospective adoption of ASU 2016-09 in the first quarter of 2017. The assumed proceeds in 2016 include Excess Tax Benefits.

The decrease in the diluted shares outstanding in the nine months ended September 30, 2017 primarily reflects treasury share repurchases under the Company’s Board authorized share repurchase program.