Net Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2014

Basic And Diluted Net Income Per Common Share

Basic and diluted net income per common share are presented in the following table.



(in millions, except per share data)
Years Ended December 31	2014		2013		2012
Basic and diluted
Net income	$	593	$	541	$	521
Less income allocated to participating securities	7		8		6
Net income attributable to common shares	$	586	$	533	$	515

Basic average common shares	179		183		191

Basic net income per common share	$	3.28	$	2.92	$	2.68

Basic average common shares	179		183		191
Dilutive common stock equivalents:
Net effect of the assumed exercise of stock options	2		1		1
Net effect of the assumed exercise of warrants	4		3		—
Diluted average common shares	185		187		192

Diluted net income per common share	$	3.16	$	2.85	$	2.67

Schedule of Average Shares Excluded From Diluted Net Income Per Common Share Computation

The following average shares related to outstanding options and warrants to purchase shares of common stock were not included in the computation of diluted net income per common share because the prices of the options and warrants were greater than the average market price of common shares for the period.



(shares in millions)
Years Ended December 31	2014	2013	2012
Average outstanding options	7.2	10.8	16.0
Range of exercise prices	$47.24 - 61.94	$34.78 - $61.94	$29.81 - $64.50
Average outstanding warrants	—	—	0.3
Exercise price	—	—	$30.36