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Earnings Per Share
 9 Months Ended
Sep. 30, 2014
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 periods indicated. In the table below, income represents the numerator and weighted-average shares represent the denominator:
 
 
Three Months Ended September 30,
 
 
2014
 
2013
 
 
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
 
$
488

 
721

 
$
0.68

 
$
175

 
742

 
$
0.23

EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 

 
 
 
 
 
 
Convertible securities
 
6

 
15

 
(0.01
)
 
—

 
—

 
—

Stock options
 
—

 
1

 
—

 
—

 
1

 
—

Restricted stock units
 
—

 
3

 
—

 
—

 
4

 
—

DILUTED EARNINGS PER SHARE
 
$
494

 
740

 
$
0.67

 
$
175

 
747

 
$
0.23


 
 
Nine Months Ended September 30,
 
 
2014
 
2013
 
 
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
 
$
583

 
724

 
$
0.81

 
$
454

 
745

 
$
0.61

EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 
 
 
 
 
 
 
 
Stock options
 
—

 
—

 
—

 
—

 
—

 
—

Restricted stock units
 
—

 
3

 
—

 
—

 
4

 
—

DILUTED EARNINGS PER SHARE
 
$
583

 
727

 
$
0.81

 
$
454

 
749

 
$
0.61


The calculation of diluted earnings per share excluded 5 million and 6 million options outstanding at September 30, 2014 and 2013, respectively, 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 1 million restricted stock units outstanding at September 30, 2014 and 2013, 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 months ended September 30, 2014, all convertible debentures were included in the earnings per share calculation. For the three months ended September 30, 2013, 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. For the nine months ended September 30, 2014 and 2013, 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 nine months ended September 30, 2014, 1 million shares of common stock were issued under the Company’s profit-sharing plan.