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EARNINGS PER COMMON SHARE | 12 Months Ended
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Dec. 31, 2014
EARNINGS PER COMMON SHARE |
EARNINGS PER COMMON SHARE | T. 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:
|  | 2014 |  | 2013 |  | 2012 |
Numerator (basic and diluted): |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 861 |  | $ | 298 |  | $ | (53 | )
Less: Allocation to unvested restricted stock awards |  |  | 17 |  |  | 7 |  |  | 2 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) from continuing operations attributable to common shareholders |  |  | 844 |  |  | 291 |  |  | (55 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss from discontinued operations, net |  |  | (5 | ) |  | (10 | ) |  | (61 | )
Less: Allocation to unvested restricted stock awards |  |  | — |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss from discontinued operations attributable to common shareholders |  |  | (5 | ) |  | (10 | ) |  | (61 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) available to common shareholders |  | $ | 839 |  | $ | 281 |  | $ | (116 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator: |  |  |  |  |  |  |  |  |  |
Basic common shares (based upon weighted average) |  |  | 349 |  |  | 350 |  |  | 349 |
Add: |  |  |  |  |  |  |  |  |  |
Stock option dilution |  |  | 3 |  |  | 2 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted common shares |  |  | 352 |  |  | 352 |  |  | 349 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
We follow accounting guidance regarding determining whether instruments granted in share-based payment transactions are participating securities. This accounting guidance clarifies that share-based payment awards that entitle their holders to receive non-forfeitable dividends prior to vesting should be considered participating securities. We have granted restricted stock awards that contain non-forfeitable rights to dividends on unvested shares; such unvested restricted stock awards are considered participating securities. As participating securities, the unvested shares are required to be included in the calculation of our basic earnings per common share, using the "two-class method." The two-class method of computing earnings per common share is an allocation method that calculates earnings per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. For the years ended December 31, 2014, 2013 and 2012, we allocated dividends and undistributed earnings (only in 2014 and 2013) to the unvested restricted stock awards (participating securities). Additionally, 7 million common shares, 12 million common shares and 30 million common shares for 2014, 2013 and 2012, respectively, related to stock options were excluded from the computation of diluted earnings per common share due to their antidilutive effect. Common shares outstanding included on our balance sheet and for the calculation of earnings per common share do not include unvested stock awards (6 million common shares and 8 million common shares at December 31, 2014 and 2013, respectively); shares outstanding for legal requirements included all common shares that have voting rights (including unvested stock awards).

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