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Earnings Per Common Share
 9 Months Ended
Dec. 31, 2013
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 December 31,
 
Nine Months Ended December 31,
(In millions, except per share amounts)
2013
 
2012
 
2013
 
2012
Income from continuing operations
$
156

 
$
306

 
$
992

 
$
1,084

Loss from discontinued operations, net of tax
(92
)
 
(8
)
 
(100
)
 
(5
)
Net income
$
64

 
$
298

 
$
892

 
$
1,079

 
 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
Basic
230

 
235

 
229

 
236

Effect of dilutive securities:
 
 
 
 
 
 
 
Options to purchase common stock
2

 
1

 
1

 
1

Restricted stock units
2

 
4

 
3

 
3

Diluted
234

 
240

 
233

 
240

 
 
 
 
 
 
 
 
Earnings (loss) per common share: (1)
 
 
 
 
 
 
 
Diluted
 
 
 
 
 
 
 
Continuing operations
$
0.67

 
$
1.27

 
$
4.26

 
$
4.51

Discontinued operations
(0.39
)
 
(0.03
)
 
(0.43
)
 
(0.02
)
Total
$
0.28

 
$
1.24

 
$
3.83

 
$
4.49

Basic
 
 
 
 
 
 
 
Continuing operations
$
0.68

 
$
1.30

 
$
4.34

 
$
4.60

Discontinued operations
(0.40
)
 
(0.03
)
 
(0.44
)
 
(0.02
)
Total
$
0.28

 
$
1.27

 
$
3.90

 
$
4.58

(1)
Certain computations may reflect rounding adjustments.
Potentially dilutive securities include outstanding stock options, restricted stock units and performance-based restricted stock units. Approximately nil and 1 million potentially dilutive securities were excluded from the computations of diluted net earnings per common share for the quarters ended December 31, 2013 and 2012 and 3 million and 5 million potentially dilutive securities were excluded from the computations of diluted net earnings per common share for the nine months ended December 31, 2013 and 2012, as they were anti-dilutive.