Note 12 — 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 2018, 2017 and 2016, respectively:



	Year Ended March 31,
(in millions, except per share amounts)	2018			2017			2016
Basic income from continuing operations per common share:
Income from continuing operations	$	476		$	775		$	769
Less: Income from continuing operations allocable to participating securities	(6		)	(9		)	(8		)
Income from continuing operations allocable to common shares	$	470		$	766		$	761
Weighted average common shares outstanding	414			414			426
Basic income from continuing operations per common share	$	1.14		$	1.85		$	1.79
Diluted income from continuing operations per common share:
Income from continuing operations	$	476		$	775		$	769
Less: Income from continuing operations allocable to participating securities	(6		)	(9		)	(8		)
Income from continuing operations allocable to common shares	$	470		$	766		$	761
Weighted average shares outstanding and common share equivalents:
Weighted average common shares outstanding	414			414			426
Weighted average effect of share-based payment awards	1			1			1
Denominator in calculation of diluted income per share	415			415			427
Diluted income from continuing operations per common share	$	1.13		$	1.85		$	1.78

For fiscal years 2018, 2017 and 2016, 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 5 million, 5 million and 4 million for fiscal years 2018, 2017 and 2016, respectively, were considered participating securities in the calculation of net income allocable to common stockholders.