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Common shares (Tables) | 12 Months Ended
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Dec. 31, 2013
Summary of Common Shares |
thousands of shares |  | As at Dec. 31 2013 |  |  | As at Dec. 31 2012 |
Authorized |  |  | 1,100,000 |  |  |  | 1,100,000 |
Results of Share Repurchase Program Activities | The results of these activities are as shown below.
Year |  | Purchased shares (thousands) |  |  | Millions of dollars |
1995 to 2011 |  |  | 903,765 |  |  |  | 15,580 |
2012 |  |  | 2,776 |  |  |  | 128 |
2013 |  |  | - |  |  |  | - |
Cumulative purchases to date |  |  | 906,541 |  |  |  | 15,708 |
Common Share Activities | The company’s common share activities are summarized below:
|  | Thousands of shares |  |  | Millions of dollars |
Balance as at January 1, 2011 |  |  | 847,599 |  |  |  | 1,511 |
Issued under employee share-based awards |  |  | 1,262 |  |  |  | 19 |
Purchases at stated value |  |  | (1,262 | ) |  |  | (2 | )
Balance as at December 31, 2011 |  |  | 847,599 |  |  |  | 1,528 |
Issued under employee share-based awards |  |  | 2,776 |  |  |  | 43 |
Purchases at stated value |  |  | (2,776 | ) |  |  | (5 | )
Balance as at December 31, 2012 |  |  | 847,599 |  |  |  | 1,566 |
Issued under employee share-based awards |  |  | - |  |  |  | - |
Purchases at stated value |  |  | - |  |  |  | - |
Balance as at December 31, 2013 |  |  | 847,599 |  |  |  | 1,566 |
Calculation of Basic and Diluted Earnings Per Share | The following table provides the calculation of basic and diluted earnings per share:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Net income per common share – basic |  |  |  |  |  |  |  |  |  |  |  |
Net income (millions of dollars) |  |  | 2,828 |  |  |  | 3,766 |  |  |  | 3,371 |
Weighted average number of common shares outstanding |  |  |  |  |  |  |  |  |  |  |  |
(millions of shares) |  |  | 847.6 |  |  |  | 847.7 |  |  |  | 847.7 |
Net income per common share (dollars) |  |  | 3.34 |  |  |  | 4.44 |  |  |  | 3.98 |
Net income per common share - diluted |  |  |  |  |  |  |  |  |  |  |  |
Net income (millions of dollars) |  |  | 2,828 |  |  |  | 3,766 |  |  |  | 3,371 |
Weighted average number of common shares outstanding |  |  |  |  |  |  |  |  |  |  |  |
(millions of shares) |  |  | 847.6 |  |  |  | 847.7 |  |  |  | 847.7 |
Effect of employee share-based awards (millions of shares) |  |  | 3.0 |  |  |  | 3.4 |  |  |  | 5.9 |
Weighted average number of common shares outstanding, assuming dilution (millions of shares) |  |  | 850.6 |  |  |  | 851.1 |  |  |  | 853.6 |
Net income per common share (dollars) |  |  | 3.32 |  |  |  | 4.42 |  |  |  | 3.95 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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