Note 3 – Earnings Per Share
The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):
| 2013 | 2012 | 2011 | ||||||||||
|
Weighted average common shares outstanding for basic computations |
320.9 | 323.7 | 335.9 | |||||||||
|
Weighted average dilutive effect of equity awards |
5.6 | 4.7 | 4.0 | |||||||||
|
Weighted average common shares outstanding for diluted computations |
326.5 | 328.4 | 339.9 | |||||||||
We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed exercise of outstanding stock options and vesting of outstanding restricted stock units based on the treasury stock method.
The computation of diluted earnings per common share excluded 2.4 million, 8.0 million, and 13.4 million stock options for the years ended December 31, 2013, 2012, and 2011 because their inclusion would have been anti-dilutive, primarily due to their exercise prices exceeding the average market prices of our common stock during the respective periods.