EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2015

T. EARNINGS PER COMMON SHARE

Reconciliations of the numerators and denominators used in the computations of basic and diluted earnings per common share were as follows, in millions:

	2015			2014			2013
Numerator (basic and diluted):
Income from continuing operations	$	357		$	821		$	259
Less: Allocation to unvested restricted stock awards		5			16			6

Income from continuing operations attributable to common shareholders		352			805			253

(Loss) income from discontinued operations, net		(2	)		35			29
Less: Allocation to unvested restricted stock awards		—			(1	)		—

(Loss) income from discontinued operations attributable to common shareholders		(2	)		34			29

Net income available to common shareholders	$	350		$	839		$	282


Denominator:
Basic common shares (based upon weighted average)		338			349			350
Add:
Stock option dilution		3			3			2

Diluted common shares		341			352			352

We follow accounting guidance regarding determining whether instruments granted in share-based payment transactions are participating securities. This accounting guidance clarifies that share-based payment awards that entitle their holders to receive non-forfeitable dividends prior to vesting should be considered participating securities. We have granted restricted stock awards that contain non-forfeitable rights to dividends on unvested shares; such unvested restricted stock awards are considered participating securities. As participating securities, the unvested shares are required to be included in the calculation of our basic earnings per common share, using the "two-class method." The two-class method of computing earnings per common share is an allocation method that calculates earnings per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. For the years ended December 31, 2015, 2014 and 2013, we allocated dividends and undistributed earnings to the participating securities.

Additionally, 5 million common shares, 7 million common shares and 12 million common shares for 2015, 2014 and 2013, respectively, related to stock options were excluded from the computation of diluted earnings per common share due to their antidilutive effect.

Common shares outstanding included on our balance sheet and for the calculation of earnings per common share do not include unvested stock awards (5 million common shares and 6 million common shares at December 31, 2015 and 2014, respectively); shares outstanding for legal requirements included all common shares that have voting rights (including unvested stock awards).