Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

Earnings Per Share

Basic earnings per share of common stock is computed using the weighted average number of shares of common stock outstanding during each period. The diluted earnings per share of common stock include the effect of outstanding stock options, shares of restricted stock, or shares of our common stock held in a rabbi trust (when dilutive). The following table summarizes the calculation of basic and diluted earnings per share:

	Year Ended December 31,
(millions, except per share amounts)	2014			2013		2012
Income from Continuing Operations	$	1,214		$	907	$	965
Earnings Adjustment from Assumed Conversion of Dilutive Shares of Common Stock in Rabbi Trust (1)	(17		)	—		—
Income from Continuing Operations Used for Diluted Earnings Per Share Calculation	$	1,197		$	907	$	965
Weighted Average Number of Shares Outstanding, Basic	361			359		356
Incremental Shares From Assumed Conversion of Dilutive Stock Options, Restricted Stock, and Shares of Common Stock in Rabbi Trust	6			4		3
Weighted Average Number of Shares Outstanding, Diluted	367			363		359
Earnings from Continuing Operations Per Share, Basic	$	3.36		$	2.53	$	2.71
Earnings from Continuing Operations Per Share, Diluted	3.27			2.50		2.68
Additional Information
Number of antidilutive stock options, shares of restricted stock and shares of common stock in rabbi trust excluded from calculation above	3			3		5
Weighted average option exercise price per share	$	60.30		$	53.40	$	48.73

⁽¹⁾  Consistent with GAAP, when dilutive, deferred compensation gains or losses, net of tax, are excluded from net income while our common shares held in the rabbi trust are included in the diluted share count. For this reason, the diluted earnings per share calculations for the year ended December 31, 2014 excludes deferred compensation gains, net of tax.