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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Notes to Financial Statements [Abstract]  
Earnings Per Share
Earnings Per Share
 
For the Year Ended 2011
 
For the Year Ended 2010
 
For the Year Ended 2009
 
Income
 
Shares
(millions)
 
Per
Share
 
Income
 
Shares
(millions)
 
Per
Share
 
Income
 
Shares
(millions)
 
Per
Share
Net income attributable to Colgate-Palmolive Company
$
2,431

 
 
 
 
 
$
2,203

 
 
 
 
 
$
2,291

 
 

 
 
Preferred dividends
—

 
 
 
 
 
(34
)
 
 
 
 
 
(30
)
 
 

 
 
Basic EPS
2,431

 
488.3

 
$
4.98

 
2,169

 
487.8

 
$
4.45

 
2,261

 
499.5

 
$
4.53

Stock options and restricted stock
 
 
3.7

 
 

 
 

 
3.3

 
 

 
 

 
3.8

 
 

Convertible preference stock
—

 
—

 
 

 
34

 
19.8

 
 

 
30

 
21.3

 
 

Diluted EPS
$
2,431

 
492.0

 
$
4.94

 
$
2,203

 
510.9

 
$
4.31

 
$
2,291

 
524.6

 
$
4.37


Basic earnings per common share is computed by dividing net income available for common stockholders by the weighted-average number of common shares outstanding for the period.

Diluted earnings per common share is computed using the treasury stock method on the basis of the weighted-average number of shares of common stock plus the dilutive effect of potential common shares outstanding during the period. Dilutive potential common shares include outstanding stock options and restricted stock awards.

As of December 31, 2011, 2010 and 2009, the average number of stock options that were anti-dilutive and not included in diluted earnings per share calculations were 1,531,768, 67,565 and 5,794,326, respectively.

As a result of rules issued by the IRS related to employer stock held in defined contribution plans, the Company issued a notice of redemption with respect to the 2,405,192 shares of preference stock outstanding on December 29, 2010.  At the direction of the Company’s ESOP trustee, the shares of preference stock were converted into 19,241,536 shares of common stock.