GE 2013 Annual Report Download - page 123

Download and view the complete annual report

Please find page 123 of the 2013 GE annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 150

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150

GE 2013 ANNUAL REPORT 121
    
Note 20.
Earnings Per Share Information
2013 2012 2011
(In millions; per-share amounts in dollars) Diluted Basic Diluted Basic Diluted Basic
AMOUNTS ATTRIBUTABLE TO THE COMPANY:
CONSOLIDATED
Earnings from continuing operations for per-share calculation (a) (b) $ 15,145 $ 15,157 $ 14,604 $ 14,603 $ 14,102 $ 14,101
Preferred stock dividends declared (c) — — — — (1,031) (1,031)
Earnings from continuing operations attributable to common shareowners
for per-share calculation (a) (b) 15,145 15,157 14,604 14,603 13,070 13,070
Earnings (loss) from discontinued operations for per-share calculation (a) (b) (2,128) (2,116) (980) (980) 30 30
Net earnings attributable to GE common shareowners for
per-share calculation (a) (b) $ 13,028 $ 13,040 $ 13,622 $ 13,622 $ 13,099 $ 13,098
AVERAGE EQUIVALENT SHARES
Shares of GE common stock outstanding 10,222 10,222 10,523 10,523 10,591 10,591
Employee compensation-related shares (including stock options) and warrants 67 — 41 — 29 —
Total average equivalent shares 10,289 10,222 10,564 10,523 10,620 10,591
PER-SHARE AMOUNTS
Earnings from continuing operations $ 1.47 $ 1.48 $ 1.38 $ 1.39 $ 1.23 $ 1.23
Earnings (loss) from discontinued operations (0.21) (0.21) (0.09) (0.09) — —
Net earnings 1.27 1.28 1.29 1.29 1.23 1.24
Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and, therefore, are
included in the computation of earnings per share pursuant to the two-class method. Application of this treatment has an insignificant effect.
(a) Included an insignificant amount of dividend equivalents in each of the three years presented.
(b) Included in 2013 is a dilutive adjustment for the change in income for forward purchase contracts that may be settled in stock.
(c) Included $806 million related to the redemption of our 10% cumulative preferred stock in 2011. See Note 15.
For the years ended December 31, 2013, 2012 and 2011, there
were approximately 121 million, 292 million and 321 million,
respectively, of outstanding stock awards that were not included
in the computation of diluted earnings per share because their
effect was antidilutive.
Earnings-per-share amounts are computed independently
for earnings from continuing operations, earnings (loss) from
discontinued operations and net earnings. As a result, the sum
of per-share amounts from continuing operations and discon-
tinued operations may not equal the total per-share amounts for
net earnings.