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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
12. Earnings Per Share

Basic and diluted earnings per share (“EPS”) were calculated using the following:

 

 

                         
    Year Ended
December 31,		  
    2011     2010     2009  
    (In millions)  

Numerator:

                        

Net income, as reported

   $ 1,116     $ 1,029     $ 948  

Less: Net income attributable to participating securities

     (3 )      —         —    
   

 

 

    

 

 

    

 

 

  

Net income available to common shareholders

   $ 1,113     $ 1,029     $ 948  
   

 

 

    

 

 

    

 

 

  

Denominator:

                        

Basic EPS – weighted average shares

     139.11       151.59       164.48  

Effect of dilutive securities:

                        

Stock Options and SARS

     0.24       0.20       0.14  
   

 

 

    

 

 

    

 

 

  

Diluted EPS – adjusted weighted average shares and assumed conversions

     139.35       151.79       164.62  
   

 

 

    

 

 

    

 

 

  

Earnings Per Share:

                        

Basic

   $ 8.00     $ 6.78     $ 5.76  

Diluted

   $ 7.99     $ 6.78     $ 5.76  

Options to purchase 0.3 million shares, 0.6 million shares and 1.1 million shares of common stock were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive for the years ended December 31, 2011, 2010 and 2009, respectively.