Note 8—Earnings Per Share
The numerator and denominator used for the computation of basic and diluted per share earnings from continuing operations were as follows (in millions, except per share data):
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Three months ended June 30, |
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Six months ended June 30, |
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2013 |
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2012 |
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2013 |
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2012 |
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Basic |
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Diluted |
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Basic |
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Diluted |
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Basic |
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Diluted |
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|
Basic |
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Diluted |
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Numerator for earnings (loss) per share |
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Income (loss) from continuing operations attributable to controlling interest |
|
$ |
317 |
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|
$ |
317 |
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|
$ |
(304 |
) |
|
$ |
(304 |
) |
|
$ |
638 |
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|
$ |
638 |
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|
$ |
(158 |
) |
|
$ |
(158 |
) |
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Undistributed earnings allocable to participating securities |
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|
(3 |
) |
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|
(3 |
) |
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|
— |
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|
|
— |
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|
|
(6 |
) |
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|
(6 |
) |
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|
— |
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|
|
— |
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|
Income (loss) from continuing operations available to shareholders |
|
$ |
314 |
|
|
$ |
314 |
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|
$ |
(304 |
) |
|
$ |
(304 |
) |
|
$ |
632 |
|
|
$ |
632 |
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|
$ |
(158 |
) |
|
$ |
(158 |
) |
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Denominator for earnings (loss) per share |
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Weighted-average shares outstanding |
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|
360 |
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|
|
360 |
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|
|
353 |
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|
|
353 |
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|
|
360 |
|
|
|
360 |
|
|
|
352 |
|
|
|
352 |
|
|
Effect of stock options and other share-based awards |
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|
— |
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|
— |
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— |
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— |
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|
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— |
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— |
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— |
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— |
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Weighted-average shares for per share calculation |
|
|
360 |
|
|
|
360 |
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|
|
353 |
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|
|
353 |
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|
|
360 |
|
|
|
360 |
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|
|
352 |
|
|
|
352 |
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Per share earnings (loss) from continuing operations |
|
$ |
0.87 |
|
|
$ |
0.87 |
|
|
$ |
(0.86 |
) |
|
$ |
(0.86 |
) |
|
$ |
1.76 |
|
|
$ |
1.76 |
|
|
$ |
(0.45 |
) |
|
$ |
(0.45 |
) |
In the three and six months ended June 30, 2013, we excluded 2.4 million and 2.3 million share-based awards, respectively, from the calculation since the effect would have been anti-dilutive. In the three and six months ended June 30, 2012, we excluded 2.2 million and 2.0 million share-based awards, respectively, from the calculation since the effect would have been anti-dilutive.
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