Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

11. Earnings Per Share

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Weighted average shares outstanding for basic net earnings per share		175.2		191.5		176.3		192.1
Effect of dilutive stock options and other equity awards		1.0		1.2		1.0		1.2
Weighted average shares outstanding for diluted net earnings per share		176.2		192.7		177.3		193.3

During the three and six month periods ended June 30, 2012, an average of 12.8 million options and 12.6 million options, respectively, 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 and six month periods ended June 30, 2011, an average of 11.6 million options and 12.2 million options, respectively, were not included in the computation.

In the three month period ended June 30, 2012, we repurchased 1.7 million shares of our common stock at an average price of $63.75 per share for a total cash outlay of $106.5 million, including commissions. In the six month period ended June 30, 2012, we repurchased 4.0 million shares of our common stock at an average price of $62.17 per share for a total cash outlay of $248.1 million, including commissions. As of June 30, 2012, approximately $1.3 billion remained authorized under a $1.5 billion repurchase program, which will expire on December 31, 2014.