. L3’s Earnings Per Share

A reconciliation of basic and diluted Earnings Per Share (EPS) is presented in the table below.



	First Quarter Ended
	March 30, 2018			March 31, 2017
	(in millions, except per share data)
Reconciliation of net income:
Net income	$	208		$	168
Net income from continuing operations attributable to noncontrolling interests	(5		)	(4		)
Net income attributable to L3’s common shareholders	$	203		$	164
Earnings attributable to L3’s common shareholders:
Continuing operations	$	187		$	153
Discontinued operations, net of income tax	16			11
Net income attributable to L3’s common shareholders	$	203		$	164
Earnings per share attributable to L3’s common shareholders:
Basic:
Weighted average common shares outstanding	78.2			77.7
Basic earnings per share:
Continuing operations	$	2.40		$	1.97
Discontinued operations, net of income tax	0.20			0.14
Net income	$	2.60		$	2.11
Diluted:
Common and potential common shares:
Weighted average common shares outstanding	78.2			77.7
Effect of dilutive securities	1.7			1.6
Common and potential common shares	79.9			79.3
Diluted earnings per share:
Continuing operations	$	2.34		$	1.93
Discontinued operations, net of income tax	0.20			0.14
Net income	$	2.54		$	2.07

The computation of diluted EPS excludes 0.3 million shares for each of the quarterly periods ended March 30, 2018 and March 31, 2017, for share-based payment awards as they were anti-dilutive.