Footnote 15 — Earnings Per Share

The computations of the weighted average shares outstanding for the years ended December 31, are as follows (in millions):


	2018		2017		2016
Weighted-average shares outstanding		473.3		485.7		418.3
Share-based payment awards classified as participating securities		0.4		1.0		1.5
Dilutive effect from Jarden Acquisition		—		—		1.5

Basic weighted-average shares outstanding		473.7		486.7		421.3
Dilutive securities (1)		—		1.3		—

Diluted weighted-average shares outstanding		473.7		488.0		421.3

(1)	For 2018, 0.6 million potentially dilutive share-based awards are excluded as their effect would be anti-dilutive. For 2017 and 2016, the amount of potentially dilutive securities that are excluded because their effect would be anti-dilutive are not material.

As of December 31, 2018, there were 1.6 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 2018, 2017 and 2016 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, 2018, 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 acquisition of Jarden, payable in cash (see Footnote 20).