Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share

Note 9.  Earnings per Share

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

	2012		2011		2010
Income from continuing operations	$	315	$	240	$	36
Less: Noncontrolling interests		15		13		4
Less: Preferred stock dividend requirements		31		31		32
Income from continuing operations available to common stockholders - Numerator basic		269		196		-
Preferred stock dividend requirements		31		31
Numerator diluted	$	300	$	227	$	-
Net income (loss) available to common stockholders - Numerator basic	$	269	$	188	$	(21	)
Preferred stock dividend requirements		31		31
Numerator diluted	$	300	$	219	$	(21	)
Weighted-average number of shares outstanding - Denominator basic		148.0		146.6		140.8
Employee compensation-related shares, including stock options		2.0		3.2
Conversion of preferred stock		64.7		65.5
Denominator diluted		214.7		215.3		140.8

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 1.1 million, 0.3 million and 1.4 million CSEs from the calculations of diluted earnings per share for the years 2012, 2011 and 2010 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 5.1 million for 2010 since there was no net income available to common stockholders for this period.

We excluded 66.2 million CSEs related to the assumed conversion of the preferred stock for 2010, along with the adjustment for the related dividend requirements, as the effect of the conversion would have been anti-dilutive for the period.