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 29, 2019			March 30, 2018
	(in millions, except per share data)
Reconciliation of net income:
Net income	$	223		$	208
Net income from continuing operations attributable to noncontrolling interests	(6		)	(5		)
Net income attributable to L3’s common shareholders	$	217		$	203
Earnings attributable to L3’s common shareholders:
Continuing operations	$	217		$	187
Discontinued operations, net of income tax	—			16
Net income attributable to L3’s common shareholders	$	217		$	203
Earnings per share attributable to L3’s common shareholders:
Basic:
Weighted average common shares outstanding	79.2			78.2
Basic earnings per share:
Continuing operations	$	2.74		$	2.40
Discontinued operations, net of income tax	—			0.20
Net income	$	2.74		$	2.60
Diluted:
Common and potential common shares:
Weighted average common shares outstanding	79.2			78.2
Effect of dilutive securities	0.8			1.7
Common and potential common shares	80.0			79.9
Diluted earnings per share:
Continuing operations	$	2.71		$	2.34
Discontinued operations, net of income tax	—			0.20
Net income	$	2.71		$	2.54

The computation of diluted EPS excludes 0.5 million shares for the quarterly period ended March 29, 2019 and 0.3 million shares for the quarterly period ended March 30, 2018 for share-based payment awards as they were anti-dilutive.