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Basic and Diluted Earnings Per Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Share
Basic and Diluted Earnings Per Share
Basic earnings per share of common stock is computed using the weighted average number of shares of common stock outstanding during each period. The diluted earnings per share of common stock include the effect of outstanding stock options, shares of restricted stock, or shares of our common stock held in a rabbi trust (when dilutive). The following table summarizes the calculation of basic and diluted earnings per share:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2012
 
2011
 
2012
 
2011
(millions, except per share amounts)
 
 
 
 
 
 
 
Income from Continuing Operations
$
164

 
$
491

 
$
687

 
$
727

Earnings Adjustment from Assumed Conversion of Dilutive Shares of Common Stock in Rabbi Trust (1)
—

 
(12
)
 
(1
)
 
(10
)
Income from Continuing Operations Used for Diluted Earnings Per Share Calculation
$
164

 
$
479

 
$
686

 
$
717

 
 
 
 
 
 
 
 
Weighted Average Number of Shares Outstanding, Basic
178

 
177

 
178

 
176

Incremental Shares From Assumed Conversion of Dilutive Stock Options, Restricted Stock and Shares of Common Stock in Rabbi Trust
2

 
3

 
2

 
3

Weighted Average Number of Shares Outstanding, Diluted
180

 
180

 
180

 
179

Earnings from Continuing Operations Per Share, Basic
$
0.92

 
$
2.78

 
$
3.87

 
$
4.11

Earnings from Continuing Operations Per Share, Diluted
0.91

 
2.67

 
3.81

 
3.99

Number of antidilutive stock options, shares of restricted stock and shares of common stock in rabbi trust excluded from calculation above
3

 
1

 
2

 
2

(1) 
Consistent with GAAP, when dilutive, deferred compensation gains or losses, net of tax, are excluded from net income while our common shares held in the rabbi trust are included in the diluted share count. For this reason, the diluted earnings per share calculations for the three months ended September 30, 2011 and for the nine months ended September 30, 2012 and 2011 exclude deferred compensation gains, net of tax.