Xerox 2011 Annual Report Download - page 105

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103Xerox 2011 Annual Report
Note 20 – Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share of common stock (shares in thousands):
Year Ended December 31,
2011 2010 2009
Basic Earnings per Share:
Net income attributable to Xerox $ 1,295 $ 606 $ 485
Accrued dividends on preferred stock (24) (21) —
Adjusted Net Income Available to Common Shareholders $ 1,271 $ 585 $ 485
Weighted-average common shares outstanding 1,388,096 1,323,431 869,979
Basic Earnings per Share $ 0.92 $ 0.44 $ 0.56
Diluted Earnings per Share:
Net income attributable to Xerox $ 1,295 $ 606 $ 485
Accrued dividends on preferred stock — (21) —
Interest on Convertible Securities, net 1 — 1
Adjusted Net Income Available to Common Shareholders $ 1,296 $ 585 $ 486
Weighted-average common shares outstanding 1,388,096 1,323,431 869,979
Common shares issuable with respect to:
Stock options 9,727 13,497 462
Restricted stock and performance shares 16,993 13,800 7,087
Convertible preferred stock 26,966 — —
Convertible securities 1,992 — 1,992
Adjusted Weighted-Average Common Shares Outstanding 1,443,774 1,350,728 879,520
Diluted Earnings per Share $ 0.90 $ 0.43 $ 0.55
The following securities were not included in the computation of diluted
earnings per share because to do so would have been anti-dilutive:
Stock options 40,343 57,541 27,901
Restricted stock and performance shares 26,018 25,983 22,574
Convertible preferred stock — 26,966 —
Convertible securities — 1,992 —
66,361 112,482 50,475
Dividends per Common Share $ 0.17 $ 0.17 $ 0.17
Notes to the Consolidated
Financial Statements
(in millions, except per-share data and where otherwise noted)