Earnings Per Share

12 Months Ended

Dec. 31, 2016

The following table sets forth the computation of basic and diluted earnings per share:



	Year Ended December 31,
	2016		2015		2014
	(in millions, except share and per share amounts)
Numerator:
Net income attributable to common shareholders	$	108	$	428	$	414
Denominator:
Weighted-average common shares outstanding for basic earnings per share	165,182,290		167,285,450		168,926,733
Weighted-average effect of dilutive securities:
Employee equity awards	3,258,136		3,638,981		3,727,839
Contingent issuance of common stock	360,571		358,840		364,277
Weighted-average common shares outstanding for diluted earnings per share	168,800,997		171,283,271		173,018,849
Basic and diluted earnings per share:
Basic earnings per share	$	0.65	$	2.56	$	2.45
Diluted earnings per share	$	0.64	$	2.50	$	2.39

For further discussion of our contingent issuance of common stock, see “Non-Cash Contingent Consideration,” of Note 18, “Commitments, Contingencies and Guarantees.”

Stock options to purchase 1,406,371 shares of common stock and 4,254,012 shares of restricted stock and PSUs were outstanding at December 31, 2016. For the year ended December 31, 2016, we included all of the outstanding stock options and 3,663,919 shares of restricted stock and PSUs in the computation of diluted earnings per share, on a weighted-average basis, as their inclusion was dilutive. The remaining shares of restricted stock and PSUs are antidilutive, and as such, they were properly excluded.

Stock options to purchase 2,626,487 shares of common stock and 5,207,423 shares of restricted stock and PSUs were outstanding at December 31, 2015. For the year ended December 31, 2015, we included all of the outstanding stock options and 4,842,383 shares of restricted stock and PSUs in the computation of diluted earnings per share, on a weighted-average basis, as their inclusion was dilutive. The remaining shares of restricted stock and PSUs are antidilutive, and as such, they were properly excluded.

Stock options to purchase 3,316,782 shares of common stock and 5,405,837 shares of restricted stock and PSUs were outstanding at December 31, 2014. For the year ended December 31, 2014, we included 3,198,842 of the outstanding stock options and 4,836,518 shares of restricted stock and PSUs in the computation of diluted earnings per share, on a weighted-average basis, as their inclusion was dilutive. The remaining stock options and shares of restricted stock and PSUs are antidilutive, and as such, they were properly excluded.