NOTE 3 - EARNINGS PER SHARE

The computations of UAL’s basic and diluted earnings per share are set forth below (in millions, except per share amounts):


	Three Months Ended March 31,
	2018		2017
Earnings available to common stockholders	$	147	$	99


Basic weighted-average shares outstanding		283.9		313.7
Effect of employee stock awards		1.0		0.9

Diluted weighted-average shares outstanding		284.9		314.6


Earnings per share, basic and diluted	$	0.52	$	0.32

The number of antidilutive securities excluded from the computation of diluted earnings per share amounts was not material.

In the three months ended March 31, 2018, UAL repurchased approximately 8.4 million shares of UAL common stock in open market transactions for $0.6 billion. As of March 31, 2018, the Company had approximately $2.4 billion remaining to purchase shares under its share repurchase program. UAL may repurchase shares through the open market, privately negotiated transactions, block trades or accelerated share repurchase transactions from time to time in accordance with applicable securities laws. UAL will repurchase shares of UAL common stock subject to prevailing market conditions, and may discontinue such repurchases at any time. See Part II, Item 2, Unregistered Sales of Equity Securities and Use of Proceeds of this report for additional information.