Footnote 14 — Earnings Per Share

The computations of the weighted average shares outstanding for the periods indicated are as follows (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Weighted-average shares outstanding		483.3		446.9		483.0		357.4
Share-based payment awards classified as participating securities		1.0		1.4		1.2		1.1

Basic weighted-average shares outstanding		484.3		448.3		484.2		358.5
Dilutive securities (1)		1.6		1.9		1.6		1.6

Diluted weighted-average shares outstanding		485.9		450.2		485.8		360.1

(1)	For the three and six months ended June 31, 2017 and 2016 the amount of potentially dilutive securities that are excluded because their effect would be anti-dilutive are not material.

As of June 30, 2017 there were 9.1 million shares of the Company’s common stock that had not been issued to the former holders of Jarden shares who are exercising their right to judicial appraisal under Delaware law. Absent consent by the Company, these dissenting shareholders are no longer entitled to the merger consideration, but are instead entitled only to the judicially determined fair value of their shares, plus interest accruing from the date of the Jarden Acquisition, payable in cash. However, it is possible that the Company could issue a consent to or reach agreement with one or more of these shareholders resulting in the issuance of Company shares (in lieu of or along with the payment of cash) in settlement of the dissenters’ claims. In July 2017, approximately 6.6 million shares of the Company’s common stock were issued to certain dissenting shareholders pursuant to settlement agreements (see Footnote 18).