Chevron 2012 Annual Report Download - page 69

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Chevron Corporation 2012 Annual Report 67
Note 25
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 compen-
sation awards that areinvested in Chevron stock units by
certain ocers and employees of the company. Diluted
EPSincludes the eects of these items as well as the dilu-
tive eects of outstanding stock options awarded under
the company’s stock option programs (refer to Note 19,
“Stock Options and Other Share-Based Compensation,”
beginning on page 56). e table below sets forth
the computation ofbasic and diluted EPS:
Year ended December 31
2012 2011 2010
Basic EPS Calculation
Earnings available to common stockholders – Basic* $ 26,179 $ 26,895 $ 19,024
Weighted-average number of common shares outstanding 1,950 1,986 1,996
Add: Deferred awards held as stock units – – 1
Total weighted-average number of common shares outstanding 1,950 1,986 1,997
Earnings per share of common stock – Basic $ 13.42 $ 13.54 $ 9.53
Diluted EPS Calculation
Earnings available to common stockholders – Diluted* $ 26,179 $ 26,895 $ 19,024
Weighted-average number of common shares outstanding 1,950 1,986 1,996
Add: Deferred awards held as stock units – – 1
Add: Dilutive eect of employee stock-based awards 15 15 10
Total weighted-average number of common shares outstanding 1,965 2,001 2,007
Earnings per share of common stock – Diluted $ 13.32 $ 13.44 $ 9.48
*ere was no eect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings.