Income from Continuing Operations Per Common Share

12 Months Ended

Mar. 31, 2017

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 2017, 2016 and 2015, respectively:

	Year Ended March 31,
(in millions, except per share amounts)	2017			2016			2015
Basic income from continuing operations per common share:
Income from continuing operations	$	775		$	769		$	810
Less: Income from continuing operations allocable to participating securities	(9		)	(8		)	(8		)
Income from continuing operations allocable to common shares	$	766		$	761		$	802
Weighted average common shares outstanding	414			426			439
Basic income from continuing operations per common share	$	1.85		$	1.79		$	1.83
Diluted income from continuing operations per common share:
Income from continuing operations	$	775		$	769		$	810
Less: Income from continuing operations allocable to participating securities	(9		)	(8		)	(8		)
Income from continuing operations allocable to common shares	$	766		$	761		$	802
Weighted average shares outstanding and common share equivalents:
Weighted average common shares outstanding	414			426			439
Weighted average effect of share-based payment awards	1			1			2
Denominator in calculation of diluted income per share	415			427			441
Diluted income from continuing operations per common share	$	1.85		$	1.78		$	1.82

For fiscal years 2017, 2016 and 2015, respectively, approximately 1 million, 2 million and 1 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 5 million, 4 million and 4 million for fiscal years 2017, 2016 and 2015, respectively, were considered participating securities in the calculation of net income allocable to common stockholders.