Income from Continuing Operations Per Common Share

12 Months Ended

Mar. 31, 2016

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 2016, 2015 and 2014, respectively:



	Year Ended March 31,
(in millions, except per share amounts)	2016			2015			2014
Basic income from continuing operations per common share:
Income from continuing operations	$	769		$	810		$	887
Less: Income from continuing operations allocable to participating securities	(8		)	(8		)	(9		)
Income from continuing operations allocable to common shares	$	761		$	802		$	878
Weighted average common shares outstanding	426			439			446
Basic income from continuing operations per common share	$	1.79		$	1.83		$	1.97
Diluted income from continuing operations per common share:
Income from continuing operations	$	769		$	810		$	887
Less: Income from continuing operations allocable to participating securities	(8		)	(8		)	(9		)
Income from continuing operations allocable to common shares	$	761		$	802		$	878
Weighted average shares outstanding and common share equivalents:
Weighted average common shares outstanding	426			439			446
Weighted average effect of share-based payment awards	1			2			2
Denominator in calculation of diluted income per share	427			441			448
Diluted income from continuing operations per common share	$	1.78		$	1.82		$	1.96

For fiscal years 2016, 2015 and 2014, respectively, approximately 2 million, 1 million and 2 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, 4 million and 5 million for fiscal years 2016, 2015 and 2014, respectively, were considered participating securities in the calculation of net income allocable to common stockholders.