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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Earnings Per Common Share | 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:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Numerator (basic and diluted): |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 134 |  |  | $ | 111 |  |  | $ | 393 |  |  | $ | 281 |
Less: Allocation to unvested restricted stock awards | 2 |  |  | 2 |  |  | 5 |  |  | 4 |
Income from continuing operations attributable to common shareholders | 132 |  |  | 109 |  |  | 388 |  |  | 277 |
Loss from discontinued operations, net | — |  |  | — |  |  | — |  |  | (1 | )
Less: Allocation to unvested restricted stock awards | — |  |  | — |  |  | — |  |  | — |
Loss from discontinued operations attributable to common shareholders | — |  |  | — |  |  | — |  |  | (1 | )
Net income available to common shareholders | $ | 132 |  |  | $ | 109 |  |  | $ | 388 |  |  | $ | 276 |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Basic common shares (based upon weighted average) | 326 |  |  | 335 |  |  | 328 |  |  | 340 |
Add: Stock option dilution | 3 |  |  | 3 |  |  | 4 |  |  | 4 |
Diluted common shares | 329 |  |  | 338 |  |  | 332 |  |  | 344 |
For the three-month and nine-month periods ended September 30, 2016 and 2015, we allocated dividends and undistributed earnings to the unvested restricted stock awards. Additionally, 609,000 common shares for the nine-month period ended September 30, 2016 and 4 million and 6 million common shares for the three-month and nine-month periods ended September 30, 2015, respectively, related to stock options were excluded from the computation of diluted earnings per common share due to their antidilutive effect. On September 30, 2014, we announced that our Board of Directors authorized the repurchase of up to 50 million shares for retirement of our common stock in open-market transactions or otherwise, replacing the previous Board of Directors authorization established in 2007. In the first nine months of 2016, we repurchased and retired 8.3 million shares of our common stock (including 1.1 million shares to offset the dilutive impact of long-term stock awards granted in the first half of the year), for approximately $252 million of which $242 million was paid in cash during the first nine months of 2016. At September 30, 2016, we had 19.4 million shares remaining under the authorization. On the basis of amounts paid (declared), cash dividends per common share were $0.095 ($0.100) and $0.285 ($0.290) for the three-month and nine-month periods ended September 30, 2016, respectively, and $0.090 ($0.095) and $0.270 ($0.275) for the three-month and nine-month periods ended September 30, 2015, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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