NOTE 8. EARNINGS PER SHARE

The following table represents the calculation of net earnings per common share – basic and diluted:


	Third Quarter						Year-to-Date
(In millions, except per share amounts)	2017			2016			2017		2016
Basic Earnings Per Share
Numerator:
Net income from continuing operations	$	98		$	330		$	195	$	624
Income (loss) from discontinued operations, net of tax		(6	)		(137	)		38		(175	)

Net income	$	92		$	193		$	233	$	449

Denominator:
Weighted-average shares outstanding		518			535			517		545
Basic earnings (loss) per share:
Continuing operations	$	0.19		$	0.62		$	0.38	$	1.15
Discontinued operations		(0.01	)		(0.26	)		0.07		(0.32	)

Net earnings per share	$	0.18		$	0.36		$	0.45	$	0.82

Diluted Earnings Per Share
Numerator:
Net income from continuing operations	$	98		$	330		$	195	$	624
Income (loss) from discontinued operations, net of tax		(6	)		(137	)		38		(175	)

Net income	$	92		$	193		$	233	$	449

Denominator:
Weighted-average shares outstanding		518			535			517		545
Effect of dilutive securities:
Stock options and restricted stock		13			10			15		8

Diluted weighted-average shares outstanding		531			545			532		553
Diluted earnings (loss) per share
Continuing operations	$	0.19		$	0.61		$	0.37	$	1.13
Discontinued operations		(0.01	)		(0.25	)		0.07		(0.32	)

Net diluted earnings per share	$	0.17		$	0.35		$	0.44	$	0.81

Awards of stock options and nonvested shares representing approximately 4 million additional shares of common stock were outstanding for the third quarter and year-to-date 2017, respectively, and approximately 6 million and 7 million for the third quarter and year-to-date 2016, respectively, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.