Capital One 2013 Annual Report Download - page 234

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 13—EARNINGS PER COMMON SHARE
The following table sets forth the computation of basic and diluted earnings per common share:
Table 13.1: Computation of Basic and Diluted Earnings per Common Share
Year Ended December 31,
(Dollars and shares in millions, except per share data) 2013 2012 2011
Basic earnings per share
Income from continuing operations, net of tax ............................... $4,392 $3,734 $3,253
Loss from discontinued operations, net of tax ................................ (233) (217) (106)
Net income ........................................................... 4,159 3,517 3,147
Dividends and undistributed earnings allocated to participating securities(1) ........ (17) (15) (26)
Preferred stock dividends ................................................ (53) (15) 0
Net income available to common stockholders ............................... $4,089 $3,487 $3,121
Net income from continuing operations ..................................... $ 7.45 $ 6.60 $ 7.08
Loss from discontinued operations ........................................ (0.40) (0.39) (0.23)
Net income per share ................................................... $ 7.05 $ 6.21 $ 6.85
Total weighted-average basic shares outstanding ............................. 579.7 561.1 455.5
Year Ended December 31,
(Dollars and shares in millions, except per share data) 2013 2012 2011
Diluted earnings per share(2)
Net income available to common stockholders ............................... $4,089 $3,487 $3,121
Net income from continuing operations ..................................... $ 7.35 $ 6.54 $ 7.03
Loss from discontinued operations ........................................ (0.39) (0.38) (0.23)
Net income per share ................................................... $ 6.96 $ 6.16 $ 6.80
Total weighted-average basic shares outstanding ............................. 579.7 561.1 455.5
Stock options, warrants, contingently issuable shares, and other ................. 7.9 5.4 3.6
Total weighted-average diluted shares outstanding ............................ 587.6 566.5 459.1
(1) Includes undistributed earnings allocated to participating securities using the two-class method under the accounting guidance for
computing earnings per share.
(2) Excluded from the computation of diluted earnings per share was 5 million, 7 million and 30 million shares related to awards or options,
for the years ended December 31, 2013, 2012 and 2011, respectively, because their inclusion would be anti-dilutive.
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