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Earnings Per Common Share
3 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Common Share
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)
2012
 
2011
 
 
 
 
Net income
$
380

 
$
286

 
 
 
 
Weighted average common shares outstanding:
 
 
 
Basic
236

 
249

Effect of dilutive securities:
 
 
 
Options to purchase common stock
1

 
2

Restricted stock units
3

 
3

Diluted
240

 
254

 
 
 
 
Earnings Per common share: (1)
 
 
 
Diluted
$
1.58

 
$
1.13

Basic
$
1.61

 
$
1.15

 
(1) 
Certain computations may reflect rounding adjustments.
Potentially dilutive securities include outstanding stock options, restricted stock units and performance-based restricted stock units. Approximately 5 million and 4 million of potentially dilutive securities were excluded from the computations of diluted net earnings per common share for the quarters ended June 30, 2012 and 2011, as they were anti-dilutive.