Earnings Per Share

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Weighted average shares outstanding for basic net earnings per share		200.1		203.5		199.9		182.1
Effect of dilutive stock options and other equity awards		2.8		2.2		2.4		2.6

Weighted average shares outstanding for diluted net earnings per share		202.9		205.7		202.3		184.7

During the three and nine month periods ended September 30, 2016, an average of 0.1 million options and 0.5 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 our common stock. In the three and nine month periods ended September 30, 2015, an average of 2.2 million options and 0.7 million options, respectively, were not included.

In the three month period ended September 30, 2016, we did not repurchase any shares of our common stock. In the nine month period ended September 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.