Earnings Per Common Share

9 Months Ended

Dec. 31, 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 December 31,				Nine Months Ended December 31,
(In millions, except per share amounts)	2012		2011		2012		2011
Net income	$	298	$	300	$	1,079	$	882
Weighted average common shares outstanding:
Basic	235		246		236		247
Effect of dilutive securities:
Options to purchase common stock	1		2		1		2
Restricted stock units	4		3		3		3
Diluted	240		251		240		252
Earnings per common share: (1)
Diluted	$	1.24	$	1.20	$	4.49	$	3.51
Basic	$	1.27	$	1.22	$	4.58	$	3.57

⁽¹⁾  Certain computations may reflect rounding adjustments.

Potentially dilutive securities include outstanding stock options, restricted stock units and performance-based restricted stock units. Approximately 1 million potentially dilutive securities were excluded from the computations of diluted net earnings per common share for the third quarters of 2013 and 2012 and 5 million and 4 million for the first nine months of 2013 and 2012, as they were anti-dilutive.