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Earnings per Share and Share Repurchases
 3 Months Ended
Mar. 31, 2014
Earnings Per Share Reconciliation [Abstract]  
Earnings per Share and Share Repurchases
EARNINGS PER SHARE AND SHARE REPURCHASES
We compute loss per share ("EPS") using the two-class method, which is a loss allocation formula that determines loss per share for common stock and participating securities. Our participating securities are our grants of restricted stock and restricted stock units, which contain non-forfeitable rights to dividend equivalents. We compute basic EPS by dividing net loss allocated to common shareholders by the weighted-average number of shares outstanding during the period. Diluted EPS is calculated to give effect to all potentially dilutive common shares that were outstanding during the period.
 
 
Three Months Ended
 
 
March 31,
(Shares in millions)
 
2014
 
2013
Numerator from continuing operations:
 
 
 
 
Loss from continuing operations, less amounts attributable to noncontrolling interests
 
$
(168.3
)
 
$
(12.6
)
Less: Loss allocated to participating securities
 
2.0

 
.1

Loss from continuing operations allocated to common shareholders
 
(166.3
)
 
(12.5
)
Numerator from discontinued operations:
 
 
 
 
Loss from discontinued operations
 
$
—

 
$
(1.1
)
Less: Loss allocated to participating securities
 
—

 
—

Loss allocated to common shareholders
 
—

 
(1.1
)
Numerator attributable to Avon:
 
 
 
 
Net loss attributable to Avon
 
$
(168.3
)
 
$
(13.7
)
Less: Loss allocated to participating securities
 
2.0

 
.1

Loss allocated to common shareholders
 
(166.3
)
 
(13.6
)
Denominator:
 
 
 
 
Basic EPS weighted-average shares outstanding
 
434.1

 
432.5

Diluted effect of assumed conversion of stock options
 
—

 
—

Diluted EPS adjusted weighted-average shares outstanding
 
434.1

 
432.5

Loss per Common Share from continuing operations:
 
 
 
 
Basic
 
$
(0.38
)
 
$
(0.03
)
Diluted
 
$
(0.38
)
 
$
(0.03
)
Loss per Common Share from discontinued operations:
 
 
 
 
Basic
 
$
—

 
$
—

Diluted
 
$
—

 
$
—

Loss per Common Share attributable to Avon:
 
 
 
 
Basic
 
$
(0.38
)
 
$
(0.03
)
Diluted
 
$
(0.38
)
 
$
(0.03
)

Amounts in the table above may not necessarily sum due to rounding.
During the three months ended March 31, 2014 and 2013, we did not include stock options to purchase 20.3 million shares and 20.7 million shares of Avon common stock, respectively, in the calculations of diluted EPS as we had a loss from continuing operations, net of tax and the inclusion of these shares would decrease the net loss per share. Since the inclusion of such shares would be anti-dilutive, these are excluded from the calculation. If we had income from continuing operations, net of tax, we would have included .7 million shares for the three months ended March 31, 2013, because the average market price was higher than the exercise prices of those options.
We purchased approximately .5 million shares of Avon common stock for $6.9 during the first three months of 2014, as compared to approximately .4 million shares of Avon common stock for $6.7 during the first three months of 2013, through acquisition of stock from employees in connection with tax payments upon vesting of restricted stock units and private transactions with a broker in connection with stock based obligations under our Deferred Compensation Plan.