Net Income Attributable to Company Per Share

6 Months Ended

Jun. 30, 2015

Net Income Attributable to Company Per Share

12.

Net Income Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Numerator:
Income from continuing operations	$	289	$	608	$	599	$	1,156

Income from discontinued operations	$	—	$	11	$	—	$	52

Net income attributable to Company	$	289	$	619	$	599	$	1,208

Denominator:
Basic—weighted average common shares outstanding		387		428		397		428
Dilutive effect of employee stock options and other unvested stock awards		1		2		1		2

Diluted outstanding shares		388		430		398		430


Per share data:
Basic:
Income from continuing operations	$	0.75	$	1.42	$	1.51	$	2.70

Income from discontinued operations	$	—	$	0.03	$	—	$	0.12

Net income attributable to Company	$	0.75	$	1.45	$	1.51	$	2.82

Diluted:
Income from continuing operations	$	0.74	$	1.42	$	1.51	$	2.69

Income from discontinued operations	$	—	$	0.02	$	—	$	0.12

Net income attributable to Company	$	0.74	$	1.44	$	1.51	$	2.81


Cash dividends per share	$	0.46	$	0.46	$	0.92	$	0.72

ASC Topic 260, “Earnings Per Share” requires companies with unvested participating securities to utilize a two-class method for the computation of Net income attributable to Company per share. The two-class method requires a portion of Net income attributable to Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents, if declared. Net income attributable to Company allocated to these participating securities was immaterial for three and six months ended June 30, 2015 and therefore not excluded from Net income attributable to Company per share calculation.

In addition, the Company had stock options outstanding that were anti-dilutive totaling 14 million shares for each of the three and six months ended June 30, 2015, and 9 million shares for each of the three and six months ended June 30, 2014.