Estee Lauder 2013 Annual Report Download - page 177
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THE EST{E LAUDER COMPANIES INC. 175
NOTE 16
—
NET EARNINGS ATTRIBUTABLE TO THE EST{E LAUDER COMPANIES INC. PER COMMON SHARE
Net earnings attributable to The Estée Lauder Companies Inc. per common share (“basic EPS”) is computed by dividing
net earnings attributable to The Estée Lauder Companies Inc. by the weighted-average number of common shares
outstanding and contingently issuable shares (which satisfy certain conditions). Net earnings attributable to The Estée
Lauder Companies Inc. per common share assuming dilution (“diluted EPS”) is computed by reflecting potential dilution
from stock-based awards.
A reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:
YEAR ENDED JUNE 30 2013 2012 2011
(In millions, except per share data)
Numerator:
Net earnings attributable to The Estée Lauder Companies Inc. $1,019.8 $856.9 $700.8
Denominator:
Weighted-average common shares outstanding — Basic 387.6 388.7 394.0
Effect of dilutive stock options 5.5 6.3 6.5
Effect of RSUs 1.4 1.8 1.9
Effect of performance share units based on TSR 0.1 — —
Effect of MSU 0.3 0.2 —
Weighted-average common shares outstanding — Diluted 394.9 397.0 402.4
Net earnings attributable to The Estée Lauder Companies Inc.
per common share:
Basic $ 2.63 $ 2.20 $ 1.78
Diluted 2.58 2.16 1.74
2
0
1
3
$1,019.
8
387.
6
5
.
5
1.4
0
.
1
0
.
3
3
9
4.
9
$
2.6
3
2.5
8
As of June 30, 2013, 0.1 million outstanding stock options were not included in the computation of diluted EPS because
their inclusion would be anti-dilutive. As of June 30, 2012 and 2011, outstanding stock options that were not included in
the computation of diluted EPS because their inclusion would be anti-dilutive were de minimis. As of June 30, 2013, 2012
and 2011, 0.5 million, 0.6 million and 0.7 million, respectively, of PSUs have been excluded from the calculation of diluted
EPS because the number of shares ultimately issued is contingent on the achievement of certain performance targets of
the Company, as discussed in Note 15 — Stock Programs.