FOOTNOTE 14

Earnings Per Share

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


	2017		2016		2015
Weighted-average shares outstanding		485.7		418.3		267.9
Share-based payment awards classified as participating securities		1.0		1.5		1.4
Dilutive effect from Jarden Acquisition		—		1.5		—

Basic weighted-average shares outstanding		486.7		421.3		269.3
Dilutive securities (1)		1.3		1.8		2.2

Diluted weighted-average shares outstanding		488.0		423.1		271.5

(1)	For 2017, 2016 and 2015, the amount of potentially dilutive securities that are excluded because their effect would be anti-dilutive are not material.

As of December 31, 2017, there were 2.3 million potentially dilutive restricted share awards with performance-based vesting targets that were not met and as such, have been excluded from the computation of diluted earnings per share.

For 2017, 2016 and 2015, dividends and equivalents for share-based awards expected to be forfeited did not have a material impact on net income for basic and diluted earnings per share.

At December 31, 2017, there were approximately 2.5 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 (see Footnote 19).