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Common shares | 12 Months Ended
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Dec. 31, 2014
Common shares | 10. Common shares
thousands of shares |  | As at Dec. 31 2014 |  |  | As at Dec. 31 2013 |
Authorized |  |  | 1,100,000 |  |  |  | 1,100,000 |
From 1995 through 2014 the company purchased shares under nineteen 12-month normal course issuer bid share repurchase programs, as well as an auction tender. Cumulative purchases to date under these programs totalled 906,543 thousand shares and $15,708 million. ExxonMobil’s participation in these programs maintained its ownership interest in Imperial at 69.6 percent. On June 25, 2014, another 12-month normal course issuer bid program was implemented with an allowable purchase of up to a maximum of one million shares. The excess of the purchase cost over the stated value of shares purchased has been recorded as a distribution of earnings reinvested. The company’s common share activities are summarized below:
|  | Thousands of shares |  |  | Millions of dollars |
Balance as at January 1, 2012 |  |  | 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 |
Issued under employee share-based awards |  |  | 2 |  |  |  | - |
Purchases at stated value |  |  | (2 | ) |  |  | - |
Balance as at December 31, 2014 |  |  | 847,599 |  |  |  | 1,566 |
The following table provides the calculation of basic and diluted earnings per share:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Net income per common share – basic |  |  |  |  |  |  |  |  |  |  |  |
Net income (millions of dollars) |  |  | 3,785 |  |  |  | 2,828 |  |  |  | 3,766 |
Weighted average number of common shares outstanding (millions of shares) |  |  | 847.6 |  |  |  | 847.6 |  |  |  | 847.7 |
Net income per common share (dollars) |  |  | 4.47 |  |  |  | 3.34 |  |  |  | 4.44 |
Net income per common share - diluted |  |  |  |  |  |  |  |  |  |  |  |
Net income (millions of dollars) |  |  | 3,785 |  |  |  | 2,828 |  |  |  | 3,766 |
Weighted average number of common shares outstanding (millions of shares) |  |  | 847.6 |  |  |  | 847.6 |  |  |  | 847.7 |
Effect of employee share-based awards (millions of shares) |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.4 |
Weighted average number of common shares outstanding, assuming dilution (millions of shares) |  |  | 850.6 |  |  |  | 850.6 |  |  |  | 851.1 |
Net income per common share (dollars) |  |  | 4.45 |  |  |  | 3.32 |  |  |  | 4.42 |

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- Definition Common share information and schedule of earnings per share calculations + References No definition available. + Details
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