Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Basic and Diluted 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,
	2011			2010			2011			2010
Basic Earnings per Share:
Net income attributable to Xerox	$	320		$	250		$	920		$	435
Accrued dividends on preferred stock	(6		)	(6		)	(18		)	(15		)
Adjusted Net Income Available to Common Shareholders	$	314		$	244		$	902		$	420
Weighted-average common shares outstanding	1,396,176			1,387,110			1,398,855			1,301,950
Basic Earnings per Share	$	0.23		$	0.18		$	0.65		$	0.32
Diluted Earnings per Share:
Net income attributable to Xerox	$	320		$	250		$	920		$	435
Accrued dividends on preferred stock	(6		)	(6		)	(18		)	(15		)
Interest on Convertible Securities, net	—			—			1			—
Adjusted Net Income Available to Common Shareholders	$	314		$	244		$	903		$	420
Weighted-average common shares outstanding	1,396,176			1,387,110			1,398,855			1,301,950
Common shares issuable with respect to:
Stock options	7,952			11,691			10,932			11,795
Restricted stock and performance shares	19,578			15,912			19,906			15,036
Convertible securities	1,992			1,992			1,992			—
Adjusted Weighted Average Common Shares Outstanding	1,425,698			1,416,705			1,431,685			1,328,781
Diluted Earnings per Share	$	0.22		$	0.17		$	0.63		$	0.32
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	56,507			70,747			53,527			70,643
Restricted stock and performance shares	23,692			24,147			23,364			25,022
Convertible preferred stock	26,966			26,966			26,966			26,966
Convertible securities	—			—			—			1,992
	107,165			121,860			103,857			124,623
Dividends per common share	$	0.0425		$	0.0425		$	0.1275		$	0.1275