Avon 2013 Annual Report Download - page 84

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
For each of the three years ended December 31 the components of basic and diluted EPS were as follows:
(Shares in millions) 2013 2012 2011
Numerator from continuing operations
(Loss) income from continuing operations less amounts attributable to
noncontrolling interests $ (5.5) $ 89.0 $ 671.4
Less: Loss (earnings) allocated to participating securities .1 (.8) (5.7)
(Loss) income from continuing operations allocated to common shareholders (5.4) 88.2 665.7
Numerator from discontinued operations
Loss from discontinued operations less amounts attributable to
noncontrolling interests $ (50.9) $(131.5) $(157.8)
Less: Loss allocated to participating securities .5 1.0 .1
Loss allocated to common shareholders (50.4) (130.5) (157.7)
Numerator attributable to Avon
(Loss) income attributable to Avon less amounts attributable to
noncontrolling interests $ (56.4) $ (42.5) $ 513.6
Less: Loss (earnings) allocated to participating securities .5 .3 (4.6)
(Loss) income allocated to common shareholders (55.9) (42.2) 509.0
Denominator:
Basic EPS weighted-average shares outstanding 433.4 431.9 430.5
Diluted effect of assumed conversion of stock options – .6 1.6
Diluted EPS adjusted weighted-average shares outstanding 433.4 432.5 432.1
(Loss) Earnings per Common Share from continuing operations:
Basic $ (.01) $ .20 $ 1.55
Diluted $ (.01) $ .20 $ 1.54
Loss per Common Share from discontinued operations:
Basic $ (.12) $ (.30) $ (.37)
Diluted $ (.12) $ (.30) $ (.36)
(Loss) Earnings per Common Share attributable to Avon:
Basic $ (.13) $ (.10) $ 1.18
Diluted $ (.13) $ (.10) $ 1.18
We did not include stock options to purchase 17.5 million shares for the year ended December 31, 2013, 22.0 million shares for 2012 and
22.9 million shares for 2011 of Avon common stock in the calculations of diluted EPS because the exercise prices of those options were
greater than the average market price, and therefore, their inclusion would be anti-dilutive. We also did not include stock options to
purchase .8 million shares for the year ended December 31, 2013, as we had a loss from continuing operations, net of tax and the inclusion
of these shares would decrease the net loss per share. Since the inclusion of such shares would be anti-dilutive, these are excluded from the
calculation.