Xerox 2013 Annual Report Download - page 137

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Note 21 – 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,
2013 2012 2011
Basic Earnings per Share:
Net income from continuing operations attributable to Xerox $1,185 $1,184 $1,274
Accrued dividends on preferred stock (24)(24)(24)
Net Income From Continuing Operations Available to Common
Shareholders $1,161 $1,160 $1,250
Net (loss) income from discontinued operations attributable to Xerox (26) 11 21
Adjusted Net Income Available to Common Shareholders $1,135 $1,171 $1,271
Weighted-average common shares outstanding 1,225,486 1,302,053 1,388,096
Basic Earnings (Loss) per Share:
Continuing operations $0.95 $0.89 $0.90
Discontinued operations (0.02)0.01 0.02
Total Basic Earnings per Share $0.93 $0.90 $0.92
Diluted Earnings per Share:
Net income from continuing operations attributable to Xerox $1,185 $1,184 $1,274
Accrued dividends on preferred stock — (24)—
Interest on convertible securities, net 11 1
Adjusted Net Income From Continuing Operations Available to
Common Shareholders $1,186 $1,161 $1,275
Net (loss) income from discontinued operations attributable to Xerox (26) 11 21
Adjusted Net Income Available to Common Shareholders $1,160 $1,172 $1,296
Weighted-average common shares outstanding 1,225,486 1,302,053 1,388,096
Common shares issuable with respect to:
Stock options 5,401 4,335 9,727
Restricted stock and performance shares 13,931 20,804 16,993
Convertible preferred stock 26,966 — 26,966
Convertible securities 1,743 1,992 1,992
Adjusted Weighted Average Common Shares Outstanding 1,273,527 1,329,184 1,443,774
Diluted Earnings (Loss) per Share:
Continuing operations $0.93 $0.87 $0.88
Discontinued operations (0.02)0.01 0.02
Total Diluted Earnings per Share $0.91 $0.88 $0.90
The following securities were not included in the computation of diluted earnings per share because to do so would have been anti-
dilutive (shares in thousands):
Stock options 8,798 29,397 40,343
Restricted stock and performance shares 12,411 23,430 26,018
Convertible preferred stock — 26,966 —
Total Anti-Dilutive Securities 21,209 79,793 66,361
Dividends per Common Share $0.23 $0.17 $0.17
Note 22 – Subsequent Event
In January 2014, we acquired Invoco Holding GmbH (Invoco), a German company, for approximately $59 (€42) in
cash. The acquisition of Invoco expands our European customer care services and provides our global customers
immediate access to German-language customer care services and provides Invoco’s existing customers access to
our broad business process outsourcing capabilities. We are in the process of determining the purchase price
allocation for this acquisition.
Xerox 2013 Annual Report
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