Chevron 2011 Annual Report Download - page 69

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Chevron Corporation 2011 Annual Report 67
EPSincludes the eects of these items as well as the dilu tive
eects of outstanding stock options awarded under the com-
pany’s stock option programs (refer to Note 20, “Stock
Options and Other Share-Based Compensation,” beginning
on page 56). e table below sets forth the computation
ofbasic and diluted EPS:
Note 27
Earnings Per Share
Basic earnings per share (EPS) is based upon “Net Income
Attributable to Chevron Corporation” (“earnings”) and
includes the eects ofdeferrals of salary and other compensa-
tion awards that areinvested in Chevron stock units by
certain ocers and employees of the company. Diluted
Year ended December 31
2011 2010 2009
Basic EPS Calculation
Earnings available to common stockholders – Basic* $ 26,895 $ 19,024 $ 10,483
Weighted-average number of common shares outstanding 1,986 1,996 1,991
Add: Deferred awards held as stock units – 1 1
Total weighted-average number of common shares outstanding 1,986 1,997 1,992
Earnings per share of common stock – Basic $ 13.54 $ 9.53 $ 5.26
Diluted EPS Calculation
Earnings available to common stockholders – Diluted* $ 26,895 $ 19,024 $ 10,483
Weighted-average number of common shares outstanding 1,986 1,996 1,991
Add: Deferred awards held as stock units – 1 1
Add: Dilutive eect of employee stock-based awards 15 10 9
Total weighted-average number of common shares outstanding 2,001 2,007 2,001
Earnings per share of common stock – Diluted $ 13.44 $ 9.48 $ 5.24
*ere was no eect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings.