Net Income Per Common Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net Income Per Common Share

NET INCOME PER COMMON SHARE

Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share are computed based on the weighted average number of common and dilutive potential common shares outstanding using the treasury stock method. The table shows calculations for basic and diluted earnings per share:

(In millions except per share data)	Three months ended June 30,				Six months ended June 30,
	2014		2013		2014		2013
Numerator:
Net income—basic and diluted	$	84	$	110	$	175	$	264
Denominator:
Basic weighted-average common shares outstanding	163.5		163.5		163.5		163.3
Effect of stock-based awards:
Stock options	1.0		1.2		1.0		1.1
Nonvested shares	0.6		0.7		0.6		0.7
Adjusted diluted weighted-average shares	165.1		165.4		165.1		165.2
Earnings per share:
Basic	$	0.51	$	0.67	$	1.07	$	1.62
Diluted	0.51		0.66		1.06		1.60
Number of anti-dilutive share-based awards	0.7		0.3		0.7		0.4

The sources of dilution of our common shares are certain equity-based awards. See our 2013 Annual Report on Form 10-K, Item 8, Note 17, Share-Based Associate Compensation Plans, Page 154, for information about equity-based awards. The above table shows the number of anti-dilutive share-based awards for the three and six months ended June 30, 2014 and 2013. We did not include these share-based awards in the computation of net income per common share (diluted) because their exercise would have anti-dilutive effects.