Chevron 2011 Annual Report Download - page 69
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EPSincludes the eects of these items as well as the dilu tive
eects of outstanding stock options awarded under the com-
pany’s stock option programs (refer to Note 20, “Stock
Options and Other Share-Based Compensation,” beginning
on page 56). e table below sets forth the computation
ofbasic and diluted EPS:
Note 27
Earnings Per Share
Basic earnings per share (EPS) is based upon “Net Income
Attributable to Chevron Corporation” (“earnings”) and
includes the eects ofdeferrals of salary and other compensa-
tion awards that areinvested in Chevron stock units by
certain ocers and employees of the company. Diluted
Year ended December 31
2011 2010 2009
Basic EPS Calculation
Earnings available to common stockholders – Basic* $ 26,895 $ 19,024 $ 10,483
Weighted-average number of common shares outstanding 1,986 1,996 1,991
Add: Deferred awards held as stock units – 1 1
Total weighted-average number of common shares outstanding 1,986 1,997 1,992
Earnings per share of common stock – Basic $ 13.54 $ 9.53 $ 5.26
Diluted EPS Calculation
Earnings available to common stockholders – Diluted* $ 26,895 $ 19,024 $ 10,483
Weighted-average number of common shares outstanding 1,986 1,996 1,991
Add: Deferred awards held as stock units – 1 1
Add: Dilutive eect of employee stock-based awards 15 10 9
Total weighted-average number of common shares outstanding 2,001 2,007 2,001
Earnings per share of common stock – Diluted $ 13.44 $ 9.48 $ 5.24
*ere was no eect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings.