Earnings Per Common Share

3 Months Ended

Mar. 31, 2013

Earnings Per Common Share

NOTE 2 – EARNINGS PER COMMON SHARE

The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):

	Quarters Ended
	March 31,   2013		March 25,         2012
Weighted average common shares outstanding for basic computations		321.7		324.1
Weighted average dilutive effect of equity awards		4.6		4.5
Weighted average common shares outstanding for diluted computations		326.3		328.6

We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed exercise of outstanding stock options and vesting of outstanding restricted stock units based on the treasury stock method.

The computation of diluted earnings per common share excluded 6.4 million and 9.6 million stock options for the quarters ended March 31, 2013 and March 25, 2012 because their inclusion would have been anti-dilutive, primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods.