Earnings Per Common Share

3 Months Ended

Jun. 30, 2011

Earnings Per Common Share [Abstract]

Earnings Per Common Share

4. Earnings Per Common Share

     Basic earnings per common share are computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share are computed similar to basic earnings per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.

     The computations for basic and diluted earnings per common share are as follows:

	Quarter Ended June 30,
(In millions, except per share amounts)	2011		2010
Net income	$	286	$	298
Weighted average common shares outstanding:
Basic		249		266
Effect of dilutive securities:
Options to purchase common stock		2		4
Restricted stock units		3		2
Diluted		254		272
Earnings per common share: (1)
Diluted	$	1.13	$	1.10
Basic	$	1.15	$	1.12

(1) Certain computations may reflect rounding adjustments.

     Potentially dilutive securities include outstanding stock options, restricted stock units and performance-based restricted stock units. Approximately 4 million and 6 million of potentially dilutive securities were excluded from the computations of diluted net earnings per common share for the quarters ended June 30, 2011 and 2010, as they were anti-dilutive.