Earnings Per Common Share

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the nine and three months ended September 30, 2017 and 2016 (in millions, except per share amounts):



	Nine Months Ended September 30,				Three Months Ended September 30,
	2017		2016		2017		2016
Basic:
Net income attributable to Intercontinental Exchange, Inc.	$	1,289	$	1,070	$	369	$	344
Weighted average common shares outstanding	591		595		588		596
Basic earnings per common share	$	2.18	$	1.80	$	0.63	$	0.58
Diluted:
Weighted average common shares outstanding	591		595		588		596
Effect of dilutive securities - stock options and restricted shares	4		4		4		4
Diluted weighted average common shares outstanding	595		599		592		600
Diluted earnings per common share	$	2.17	$	1.79	$	0.62	$	0.57

Basic earnings per common share is calculated using the weighted average common shares outstanding during the period. Common equivalent shares from stock options and restricted stock awards, using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During the nine months ended September 30, 2017 and 2016, 7,380 and 715,955 outstanding stock options, respectively, were not included in the computation of diluted earnings per common share since the inclusion would have had an antidilutive effect because the outstanding stock option exercise prices were greater than the average market price of the common shares during the relevant periods. Certain figures in the table above may not recalculate due to rounding.