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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic and diluted earnings per share are based on the weighted-average number of shares of common stock and potential common stock outstanding during the period. Potential common stock, for purposes of determining diluted earnings per share, includes the effects of dilutive restricted stock units, stock options and convertible securities. The effect of such potential common stock is computed using the treasury stock method or the if-converted method, as applicable.
The following tables present a reconciliation of the numerator and denominator of the basic and diluted earnings per share computation for income from continuing operations for the three and six months ended June 30, 2013 and 2012. In the table below, income represents the numerator and weighted-average shares represent the denominator:
 
 
Three Months Ended June 30,
 
 
2013
 
2012
 
 
Income
 
Shares
 
$ per Share
 
Income
 
Shares
 
$ per Share
 
 
(in millions except per share data)
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to The AES Corporation common stockholders
 
$
164

 
747

 
$
0.22

 
$
70

 
764

 
$
0.09

EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 

 
 
 
 
 
 
Stock options
 
—

 
—

 
—

 
—

 
1

 
—

Restricted stock units
 
—

 
4

 
—

 
—

 
3

 
—

DILUTED EARNINGS PER SHARE
 
$
164

 
751

 
$
0.22

 
$
70

 
768

 
$
0.09


 
 
Six Months Ended June 30,
 
 
2013
 
2012
 
 
Income
 
Shares
 
$ per Share
 
Income
 
Shares
 
$ per Share
 
 
(in millions except per share data)
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to The AES Corporation common stockholders
 
$
270

 
746

 
$
0.36

 
$
411

 
765

 
$
0.54

EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 

 
 
 
 
 

Stock options
 
—

 
1

 
—

 
—

 
1

 
—

Restricted stock units
 
—

 
3

 
—

 
—

 
3

 
—

DILUTED EARNINGS PER SHARE
 
$
270

 
750

 
$
0.36

 
$
411

 
769

 
$
0.54


The calculation of diluted earnings per share excluded 7 million options outstanding at June 30, 2013 and 2012, that could potentially dilute basic earnings per share in the future. These options were not included in the computation of diluted earnings per share because the exercise price of these options exceeded the average market price during the related period.
The calculation of diluted earnings per share also excluded 1 million and 2 million restricted stock units outstanding at June 30, 2013 and 2012, respectively, that could potentially dilute basic earnings per share in the future. These restricted stock units were not included in the computation of diluted earnings per share because the average amount of compensation cost per share attributed to future service and not yet recognized exceeded the average market price during the related period and thus to include the restricted units would have been anti-dilutive.
For the three and six months ended June 30, 2013 and 2012, all 15 million shares of potential common stock associated with convertible debentures were omitted from the earnings per share calculation because they were anti-dilutive.
During the six months ended June 30, 2013, 1 million shares of common stock were issued under the Company’s profit-sharing plan.