Earnings per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share of common stock (shares in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Basic Earnings per Share:
Net income attributable to Xerox	$	282		$	320		$	860		$	920
Accrued dividends on preferred stock	(6		)	(6		)	(18		)	(18		)
Adjusted Net Income Available to Common Shareholders	$	276		$	314		$	842		$	902
Weighted-average common shares outstanding	1,293,513			1,396,176			1,320,422			1,398,855
Basic Earnings per Share	$	0.21		$	0.23		$	0.64		$	0.65
Diluted Earnings per Share:
Net income attributable to Xerox	$	282		$	320		$	860		$	920
Accrued dividends on preferred stock	(6		)	(6		)	(18		)	(18		)
Interest on Convertible Securities, net	—			—			1			1
Adjusted Net Income Available to Common Shareholders	$	276		$	314		$	843		$	903
Weighted-average common shares outstanding	1,293,513			1,396,176			1,320,422			1,398,855
Common shares issuable with respect to:
Stock options	3,335			7,952			5,369			10,932
Restricted stock and performance shares	20,028			19,578			21,227			19,906
Convertible securities	1,992			1,992			1,992			1,992
Adjusted Weighted Average Common Shares Outstanding	1,318,868			1,425,698			1,349,010			1,431,685
Diluted Earnings per Share	$	0.21		$	0.22		$	0.62		$	0.63
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	38,430			56,507			36,395			53,527
Restricted stock and performance shares	24,327			23,692			23,128			23,364
Convertible preferred stock	26,966			26,966			26,966			26,966
	89,723			107,165			86,489			103,857
Dividends per common share	$	0.0425		$	0.0425		$	0.1275		$	0.1275