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PART II
ITEM 8. Financial Statements and Supplementary Data
Earnings Per Share
Basic and diluted earnings per share were computed as follows:
Effect of
(Shares in thousands, dollars in millions, except per share amounts)
Basic Dilution Diluted
2014
Shareholders’ net income $ 2,102 $ – $ 2,102
Shares
Weighted average 263,889 – 263,889
Common stock equivalents 4,714 4,714
Total shares 263,889 4,714 268,603
EPS $ 7.97 $ (0.14) $ 7.83
2013
Shareholders’ net income $ 1,476 $ – $ 1,476
Shares
Weighted average 279,296 – 279,296
Common stock equivalents 5,389 5,389
Total shares 279,296 5,389 284,685
EPS $ 5.28 $ (0.10) $ 5.18
2012
Shareholders’ net income $ 1,623 $ – $ 1,623
Shares
Weighted average 284,819 – 284,819
Common stock equivalents 4,711 4,711
Total shares 284,819 4,711 289,530
EPS $ 5.70 $ (0.09) $ 5.61
The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect was
anti-dilutive.
(In millions)
2014 2013 2012
Anti-dilutive options 1.0 0.9 2.5
74 CIGNA CORPORATION - 2014 Form 10-K
NOTE 4