Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings per Share

12. Earnings Per Share

The following is a reconciliation of weighted average shares for the basic and diluted shares computations (in millions):

	Three Months Ended March 31,
	2012		2011
Weighted average shares outstanding for basic net earnings per share		177.4		192.6
Effect of dilutive stock options and other equity awards		1.1		1.2
Weighted average shares outstanding for diluted net earnings per share		178.5		193.8

During the three month period ended March 31, 2012, an average of 12.3 million options to purchase shares of common stock were not included in the computation of diluted earnings per share because the exercise prices of these options were greater than the average market price of the common stock. During the three month period ended March 31, 2011, an average of 12.7 million options were not included in the computation.

In the three month period ended March 31, 2012, we repurchased 2.3 million shares of our common stock at an average price of $61.03 per share for a total cash outlay of $141.6 million, including commissions. As of March 31, 2012, approximately $1.4 billion remained authorized under a $1.5 billion repurchase program, which will expire on December 31, 2014.