Stockholders' Equity

12 Months Ended

Mar. 31, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

(11) Stockholders’ Equity

Earnings Per Share

The two-class method is utilized for the computation of earnings per share (EPS). The two-class method requires a portion of net income to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents, if declared. Income allocated to these participating securities is excluded from net earnings allocated to common shares, as shown in the table below.

Basic earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding stock options and other dilutive securities using the treasury stock method.

The following table summarizes our basic and diluted EPS computations for fiscal 2012, 2011 and 2010:

	Year Ended March 31,
	2012		2011			2010
	(In millions, except per share data)
Basic earnings per share:
Net earnings	$	401.0	$	456.2		$	406.1
Less earnings allocated to participating securities		—		(0.3	)		(0.8	)
Net earnings allocated to common shares	$	401.0	$	455.9		$	405.3
Weighted average number of common shares outstanding		169.9		178.7			183.1
Basic earnings per share	$	2.36	$	2.55		$	2.21
Diluted earnings per share:
Net earnings	$	401.0	$	456.2		$	406.1
Less earnings allocated to participating securities		—		(0.3	)		(0.8	)
Net earnings allocated to common shares	$	401.0	$	455.9		$	405.3
Weighted average number of common shares outstanding		169.9		178.7			183.1
Incremental shares from assumed conversions of share-based awards		2.9		3.7			3.7
Adjusted weighted average number of common shares outstanding		172.8		182.4			186.8
Diluted earnings per share	$	2.32	$	2.50		$	2.17

For the years ended March 31, 2012, 2011 and 2010, 1.6 million, 1.4 million and 5.2 million weighted average potential common shares, respectively, have been excluded from the calculation of diluted EPS as they were anti-dilutive.

Treasury Stock

Our Board of Directors has authorized a total of $5.0 billion to repurchase common stock. During fiscal 2012, 2011 and 2010, we repurchased 19.2 million, 10.6 million and 7.5 million shares, respectively, for $780.5 million, $439.0 million and $275.1 million, respectively, under these authorizations. At March 31, 2012, approximately $850.2 million remains authorized in the stock repurchase program, which does not have an expiration date. In addition, during fiscal 2012, 2011 and 2010, we repurchased 0.9 million, 0.6 million and 0.4 million shares, respectively, for $38.2 million, $25.1 million and $13.0 million, respectively, to satisfy employee tax withholding obligations upon the vesting of share-based awards.