Income from Continuing Operations Per Common Share

12 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Income from Continuing Operations Per Common Share

Note 13 — Income from Continuing Operations Per Common Share

The following table presents basic and diluted income from continuing operations per common share information for fiscal years 2015, 2014 and 2013, respectively:

	Year Ended March 31,
(in millions, except per share amounts)	2015			2014			2013
Basic income from continuing operations per common share:
Income from continuing operations	$	810		$	887		$	921
Less: Income from continuing operations allocable to participating securities	(8		)	(9		)	(11		)
Income from continuing operations allocable to common shares	$	802		$	878		$	910
Weighted average common shares outstanding	439			446			456
Basic income from continuing operations per common share	$	1.83		$	1.97		$	2.00
Diluted income from continuing operations per common share:
Income from continuing operations	$	810		$	887		$	921
Less: Income from continuing operations allocable to participating securities	(8		)	(9		)	(11		)
Income from continuing operations allocable to common shares	$	802		$	878		$	910
Weighted average shares outstanding and common share equivalents:
Weighted average common shares outstanding	439			446			456
Weighted average effect of share-based payment awards	2			2			1
Denominator in calculation of diluted income per share	441			448			457
Diluted income from continuing operations per common share	$	1.82		$	1.96		$	1.99

For fiscal years 2015, 2014 and 2013, respectively, approximately 1 million, 2 million and 4 million shares of Company common stock underlying restricted stock awards and options to purchase common stock were excluded from the calculation because their effect on income per share was anti-dilutive during the respective periods. Weighted average restricted stock awards of approximately 4 million, 5 million and 5 million for fiscal years 2015, 2014 and 2013, respectively, were considered participating securities in the calculation of net income allocable to common stockholders.