Earnings Per Share

6 Months Ended

Jun. 30, 2016

13. 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,
	2016		2015		2016		2015
Weighted average shares outstanding for basic net earnings per share		199.4		173.0		199.8		171.5
Effect of dilutive stock options and other equity awards		—		—		2.3		—

Weighted average shares outstanding for diluted net earnings per share		199.4		173.0		202.1		171.5

During the six month period ended June 30, 2016, an average of 0.7 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. For periods in which we incurred a net loss, no dilutive stock options or other equity awards were included as diluted shares.

In the three month period ended June 30, 2016, we did not repurchase any of our common stock. In the six month period ended June 30, 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.