Note 6. Earnings Per Share The details of the earnings per share calculations for the three and nine months ended September 30, 2012 and 2011 are as follows: | | | Three Months Ended | | | Nine Months Ended | | | | September 30 | | | September 30 | Basic | | | 2012 | | | 2011 | | | 2012 | | | 2011 | | | | | | | | | | | | | | Income from continuing operations less net | | | | | | | | | | | | | income attributable to the noncontrolling interest | | $ | 950 | | $ | 685 | | $ | 2,675 | | $ | 2,168 | Income from discontinued operations | | | - | | | 177 | | | - | | | 209 | Net income attributable to Honeywell | | | 950 | | | 862 | | | 2,675 | | | 2,377 | | | | | | | | | | | | | | Weighted average shares outstanding | | | 783.6 | | | 778.2 | | | 780.7 | | | 782.9 | | | | | | | | | | | | | | Earnings per share of common stock | | | | | | | | | | | | | Income from continuing operations | | | 1.21 | | | 0.88 | | | 3.43 | | | 2.77 | Income from discontinued operations | | | - | | | 0.23 | | | - | | | 0.27 | Net income attributable to Honeywell | | $ | 1.21 | | $ | 1.11 | | $ | 3.43 | | $ | 3.04 |
| | | | | | | | | | | | | | | | Three Months Ended | | | Nine Months Ended | | | | September 30 | | | September 30 | Assuming Dilution | | | 2012 | | | 2011 | | | 2012 | | | 2011 | | | | | | | | | | | | | | Income from continuing operations less net | | | | | | | | | | | | | income attributable to the noncontrolling interest | | $ | 950 | | $ | 685 | | $ | 2,675 | | $ | 2,168 | Income from discontinued operations | | | - | | | 177 | | | - | | | 209 | Net income attributable to Honeywell | | | 950 | | | 862 | | | 2,675 | | | 2,377 | | | | | | | | | | | | | | Average Shares | | | | | | | | | | | | | Weighted average shares outstanding | | | 783.6 | | | 778.2 | | | 780.7 | | | 782.9 | Dilutive securities issuable - stock plans | | | 8.9 | | | 8.7 | | | 9.7 | | | 11.1 | Total weighted average shares outstanding | | | 792.5 | | | 786.9 | | | 790.4 | | | 794.0 | | | | | | | | | | | | | | Earnings per share of common stock | | | | | | | | | | | | | Income from continuing operations | | | 1.20 | | | 0.87 | | | 3.38 | | | 2.73 | Income from discontinued operations | | | - | | | 0.23 | | | - | | | 0.26 | Net income attributable to Honeywell | | $ | 1.20 | | $ | 1.10 | | $ | 3.38 | | $ | 2.99 | | | | | | | | | | | | | |
The diluted earnings per share calculations exclude the effect of stock options when the options' assumed proceeds exceed the average market price of the common shares during the period. For the three and nine months ended September 30, 2012, the weighted average number of stock options excluded from the computations were 16.6 and 14.3 million, respectively. For the three and nine months ended September 30, 2011, the weighted average number of stock options excluded from the computations were 11.6 and 8.9 million, respectively. These stock options were outstanding at the end of each of the respective periods. |