Earnings Per Common Share

3 Months Ended

Jun. 30, 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 June 30,
(In millions, except per share amounts)	2013		2012
Income from continuing operations	$	420	$	379
Income from discontinued operations, net of tax	4		1
Net income	$	424	$	380
Weighted average common shares outstanding:
Basic	227		236
Effect of dilutive securities:
Options to purchase common stock	2		1
Restricted stock units	3		3
Diluted	232		240
Earnings per common share: (1)
Diluted
Continuing operations	$	1.81	$	1.58
Discontinued operations	0.02		—
Total	$	1.83	$	1.58
Basic
Continuing operations	$	1.84	$	1.61
Discontinued operations	0.02		—
Total	$	1.86	$	1.61

(1) Certain computations may reflect rounding adjustments.

Potentially dilutive securities include outstanding stock options, restricted stock units and performance-based restricted stock units. Approximately 3 million and 5 million potentially dilutive securities were excluded from the computations of diluted net earnings per common share for the quarters ended June 30, 2013 and 2012, as they were anti-dilutive.