Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share

11. Earnings Per Share

The computations of the weighted average shares outstanding for the three months ended March 31, 2015 and 2014 are as follows:

	Three months ended March 31,
(in millions)	2015		2014
Weighted average shares outstanding:
Basic		185.4		187.7
Dilutive share-based awards		—		1.7
Convertible debt		—		3.8
Diluted (1)		185.4		193.2

(1) The three months ended March 31, 2015 excludes 8.3 million potentially dilutive securities as their effect would be anti-dilutive.

Because it is the Company’s intention to redeem the principal amount of the Senior Subordinated Convertible Notes in cash, the treasury stock method is used for determining potential dilution in the diluted earnings per share computation. As of March 31, 2015, there were 6.0 million 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.