Net Income Per Share

3 Months Ended

Mar. 31, 2016

Basic net income per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The dilutive effect of outstanding options and equity incentive awards is reflected in diluted net income per share by application of the treasury stock method. The calculation of diluted net income per share excludes all anti-dilutive common shares. The following table sets forth the computation of basic and diluted net income per share for the periods indicated:



	Three Months Ended March 31,
	2016		2015
	(In millions, except per share amounts)
Numerator:
Income from continuing operations	$	482	$	449
Income from discontinued operations, net of income taxes	—		177
Net income	$	482	$	626
Denominator:
Weighted average shares of common stock - basic	1,159		1,216
Dilutive effect of equity incentive awards	11		13
Weighted average shares of common stock - diluted	1,170		1,229
Income per share - basic:
Continuing operations	$	0.42	$	0.37
Discontinued operations	—		0.14
Net income per share - basic	$	0.42	$	0.51
Income per share - diluted:
Continuing operations	$	0.41	$	0.37
Discontinued operations	—		0.14
Net income per share - diluted	$	0.41	$	0.51
Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive	6		4