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Earnings Per Share
 9 Months Ended
Sep. 30, 2016
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 RSUs, 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. Presented below is a reconciliation, for the periods indicated, of the numerator and denominator of the basic and diluted earnings per share computation for income from continuing operations, where income represents the numerator and weighted average shares represents the denominator:
(in millions, except per share data)
2016
 
2015
Three Months Ended September 30,
Income
 
Shares
 
$ per Share
 
Income
 
Shares
 
$ per Share
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to The AES Corporation common stockholders(1)
$
171

 
659

 
$
0.26

 
$
175

 
679

 
$
0.26

EFFECT OF DILUTIVE SECURITIES
 
 
 
 

 
 
 
 
 
 
Stock options
—

 
—

 
—

 
—

 
1

 
—

Restricted stock units
—

 
3

 
—

 
—

 
2

 
—

DILUTED EARNINGS PER SHARE
$
171

 
662

 
$
0.26

 
$
175

 
682

 
$
0.26

Nine Months Ended September 30,
 
 
 
 
 
 
 
 
 
 
 
BASIC EARNINGS PER SHARE
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations attributable to The AES Corporation common stockholders(2)
$
203

 
660

 
$
0.31

 
$
403

 
692

 
$
0.58

EFFECT OF DILUTIVE SECURITIES
 
 
 
 
 
 
 
 
 
 
 
Restricted stock units
—

 
2

 
—

 
—

 
2

 
—

DILUTED EARNINGS PER SHARE
$
203

 
662

 
$
0.31

 
$
403

 
694

 
$
0.58


_____________________________
(1) Income from continuing operations, net of tax, of $176 million less the $5 million adjustment to retained earnings to record the DP&L redeemable preferred stock at its redemption value as of September 30, 2016.
(2) Income from continuing operations, net of tax, of $208 million less the $5 million adjustment to retained earnings to record the DP&L redeemable preferred stock at its redemption value as of September 30, 2016.
For the three and nine months ended September 30, 2016 and 2015, the calculation of diluted earnings per share excluded 7 million outstanding stock awards which could potentially dilute basic earnings per share in the future. Additionally, for the three and nine months ended September 30, 2016 and 2015, all 15 million shares of potential common stock associated with convertible debentures were omitted from the earnings per share calculation as the impact would have been anti-dilutive.