XML 51 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings per Share
 9 Months Ended
Sep. 30, 2014
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,
 
2014
 
2013
 
2014
 
2013
Basic Earnings per Share:
 
 
 
 
 
 
 
Net income from continuing operations attributable to Xerox
$
267

 
$
287

 
$
816

 
$
875

Accrued dividends on preferred stock
(6
)
 
(6
)
 
(18
)
 
(18
)
Adjusted Net Income From Continuing Operations Available to Common Shareholders
261

 
281

 
798

 
857

Net loss from discontinued operations attributable to Xerox
(1
)
 
(1
)
 
(3
)
 
(22
)
Adjusted Net Income Available to Common Shareholders
$
260

 
$
280

 
$
795

 
$
835

Weighted-average common shares outstanding
1,149,113

 
1,236,485

 
1,163,442

 
1,230,787

Basic Earnings (Loss) per Share:
 
 
 
 
 
 
 
Continuing operations
$
0.23

 
$
0.23

 
$
0.69

 
$
0.70

Discontinued operations
—

 
—

 
(0.01
)
 
(0.02
)
Total
$
0.23

 
$
0.23

 
$
0.68

 
$
0.68

 
 
 
 
 
 
 
 
Diluted Earnings per Share:
 
 
 
 
 
 
 
Net income from continuing operations attributable to Xerox
$
267

 
$
287

 
$
816

 
$
875

Accrued dividends on preferred stock
—

 
—

 
—

 
—

Interest on convertible securities, net
—

 
—

 
—

 
1

Adjusted Net Income From Continuing Operations Available to Common Shareholders
$
267

 
$
287

 
$
816

 
$
876

Net loss from discontinued operations attributable to Xerox
(1
)
 
(1
)
 
(3
)
 
(22
)
Adjusted Net Income Available to Common Shareholders
$
266

 
$
286

 
$
813

 
$
854

Weighted-average common shares outstanding
1,149,113

 
1,236,485

 
1,163,442

 
1,230,787

Common shares issuable with respect to:
 
 
 
 
 
 
 
Stock options
2,793

 
5,225

 
3,177

 
5,422

Restricted stock and performance shares
13,533

 
14,910

 
14,363

 
18,429

Convertible preferred stock
26,966

 
26,966

 
26,966

 
26,966

Convertible securities
—

 
1,992

 
—

 
1,992

Adjusted Weighted Average Common Shares Outstanding
1,192,405

 
1,285,578

 
1,207,948

 
1,283,596

Diluted Earnings (Loss) per Share:
 
 
 
 
 
 
 
Continuing operations
$
0.22

 
$
0.22

 
$
0.68

 
$
0.68

Discontinued operations
—

 
—

 
(0.01
)
 
(0.01
)
Total
$
0.22

 
$
0.22

 
$
0.67

 
$
0.67

 
 
 
 
 
 
 
 
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
4,143

 
13,102

 
3,759

 
12,905

Restricted stock and performance shares
18,958

 
12,016

 
18,128

 
8,497

Total Anti-Dilutive Securities
23,101

 
25,118

 
21,887

 
21,402

 
 
 
 
 
 
 
 
Dividends per Common Share
$
0.0625

 
$
0.0575

 
$
0.1875

 
$
0.1725