Earnings Per Share

3 Months Ended

Mar. 31, 2016

14. 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,
	2016		2015
Weighted average shares outstanding for basic net earnings per share		200.1		170.0
Effect of dilutive stock options and other equity awards		1.9		2.9

Weighted average shares outstanding for diluted net earnings per share		202.0		172.9

During the three month period ended March 31, 2016, an average of 1.1 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 our common stock. During the three month period ended March 31, 2015, all outstanding options to purchase shares of common stock were included in the computation of diluted earnings per share because the exercise prices of all options were less than the average market price of our common stock.

In the three month period ended March 31, 2016, we repurchased 4.2 million shares of our common stock at an average price of $98.50 per share for a total cash outlay of $415.5 million, including commissions.