Earnings Per Share

6 Months Ended

Jun. 30, 2015

Earnings per Share

Reconciliation of the numerators and denominators of the earnings per share calculations —



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Income from continuing operations	$	63	$	92	$	137	$	130
Less: Noncontrolling interests	4		4		15		7
Less: Preferred stock dividend requirements			2				5
Income from continuing operations available to common stockholders - Numerator basic	59		86		122		118
Preferred stock dividend requirements			2				5
Numerator diluted	$	59	$	88	$	122	$	123

Net income available to common stockholders - Numerator basic	$	59	$	84	$	122	$	115
Preferred stock dividend requirements			2				5
Numerator diluted	$	59	$	86	$	122	$	120


Weighted-average number of shares outstanding - Denominator basic	162.1		156.7		163.4		153.7
Employee compensation-related shares, including stock options	1.1		1.3		1.2		1.2
Conversion of preferred stock			17.1				21.1
Denominator diluted	163.2		175.1		164.6		176.0

The share count for diluted earnings per share is computed on the basis of the weighted-average number of common shares outstanding plus the effects of dilutive common stock equivalents (CSEs) outstanding during the period. We excluded 0.3 million and 0.2 million CSEs from the calculations of diluted earnings per share for the quarter and year-to-date periods ended June 30, 2015 as the effect of including them would have been anti-dilutive.