EARNINGS PER SHARE

The Company presents both basic and diluted EPS amounts. Basic EPS is calculated by dividing net income attributable to Johnson Controls by the weighted average number of ordinary shares outstanding during the reporting period. Diluted EPS is calculated by dividing net income attributable to Johnson Controls by the weighted average number of ordinary shares and ordinary equivalent shares outstanding during the reporting period that are calculated using the treasury stock method for stock options, unvested restricted stock and unvested performance share awards. The treasury stock method assumes that the Company uses the proceeds from the exercise of stock option awards to repurchase ordinary shares at the average market price during the period. The assumed proceeds under the treasury stock method include the purchase price that the grantee will pay in the future and compensation cost for future service that the Company has not yet recognized. For unvested restricted stock and unvested performance share awards, assumed proceeds under the treasury stock method would include unamortized compensation cost.

The following table reconciles the numerators and denominators used to calculate basic and diluted earnings per share (in millions):



	Year Ended September 30,
	2018		2017			2016
Income (loss) Available to Ordinary Shareholders
Income from continuing operations	$	2,162	$	1,654		$	732
Loss from discontinued operations	—		(43		)	(1,600		)
Basic and diluted income (loss) available to shareholders	$	2,162	$	1,611		$	(868	)

Weighted Average Shares Outstanding
Basic weighted average shares outstanding	925.7		935.3			667.4
Effect of dilutive securities:
Stock options, unvested restricted stock and unvested performance share awards	6.0		9.3			5.2
Diluted weighted average shares outstanding	931.7		944.6			672.6

Antidilutive Securities
Options to purchase shares	1.5		0.2			—

During the three months ended September 30, 2018 and 2017, the Company declared a dividend of $0.26 and $0.25, respectively, per share. During the twelve months ended September 30, 2018 and 2017, the Company declared four quarterly dividends totaling $1.04 and $1.00, respectively, per share. The company pays all dividends in the month subsequent to the end of each fiscal quarter.