CVS 2010 Annual Report Download - page 76

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Notes to Consolidated Financial Statements
14: EARNINGS PER COMMON SHARE
The following is a reconciliation of basic and diluted earnings per common share for the respective fiscal years:
in millions, except per share amounts 2010 2009 2008
Numerator for earnings per common share calculation:
Income from continuing operations $ 3,439 $ 3,708 $ 3,344
Net loss attributable to noncontrolling interest 3 – –
Preference dividends, net of income tax benefit – – (14)
Income from continuing operations attributable to CVS Caremark, basic 3,442 3,708 3,330
Loss from discontinued operations, net of income tax benefit (15) (12) (132)
Net income attributable to CVS Caremark, basic $ 3,427 $ 3,696 $ 3,198
Income from continuing operations $ 3,439 $ 3,708 $ 3,344
Net loss attributable to noncontrolling interest 3 – –
Dilutive earnings adjustments – – (3)
Income from continuing operations attributable to CVS Caremark, diluted 3,442 3,708 3,341
Loss from discontinued operations attributable to CVS Caremark, net of income tax benefit (15) (12) (132)
Net income attributable to CVS Caremark, diluted $ 3,427 $ 3,696 $ 3,209
Denominator for earnings per common share calculation:
Weighted average common shares, basic 1,367 1,434 1,434
Preference stock – 1 17
Stock options 8 10 13
Restricted stock units 2 5 5
Weighted average common shares, diluted 1,377 1,450 1,469
Basic earnings per common share:
Income from continuing operations attributable to CVS Caremark $ 2.52 $ 2.59 $ 2.32
Loss from discontinued operations attributable to CVS Caremark (0.01) (0.01) (0.09)
Net income attributable to CVS Caremark $ 2.51 $ 2.58 $ 2.23
Diluted earnings per common share:
Income from continuing operations attributable to CVS Caremark $ 2.50 $ 2.56 $ 2.27
Loss from discontinued operations attributable to CVS Caremark (0.01) (0.01) (0.09)
Net income attributable to CVS Caremark $ 2.49 $ 2.55 $ 2.18
– 72 –
CVS Caremark 2010 Annual Report