Earnings per Share

12 Months Ended

Dec. 31, 2015

Earnings per Share

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



	2015		2014		2013
Income from continuing operations	$	176	$	343	$	261
Less: Noncontrolling interests	21		9		16
Less: Preferred stock dividend requirements			7		25
Less: Preferred stock redemption premium					232
Income (loss) from continuing operations available to common stockholders - Numerator basic	155		327		(12		)
Preferred stock dividend requirements			7
Numerator diluted	$	155	$	334	$	(12	)

Net income (loss) available to common stockholders - Numerator basic	$	159	$	312	$	(13	)
Preferred stock dividend requirements			7
Numerator diluted	$	159	$	319	$	(13	)

Weighted-average number of shares outstanding - Denominator basic	159.0		158.0		146.4
Employee compensation-related shares, including stock options	1.0		1.2
Conversion of preferred stock			14.3
Denominator diluted	160.0		173.5		146.4

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 0.4 million and 0.3 million CSEs from the calculations of diluted earnings per share for the years 2015 and 2013 as the effect of including them would have been anti-dilutive. In addition, we excluded CSEs that satisfied the definition of potentially dilutive shares of 1.5 million for 2013 since there was no net income available to common stockholders for this period.

We excluded 12.2 million shares related to the assumed conversion of our Series A preferred stock for 2013 and 39.9 million shares related to the assumed conversion of our Series B preferred stock for 2013, along with the adjustment for the related dividend requirements, as the conversions would have been anti-dilutive for the period.