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Earnings per Share and Share Repurchases
 6 Months Ended
Jun. 30, 2015
Earnings Per Share Reconciliation [Abstract]  
Earnings per Share and Share Repurchases
EARNINGS PER SHARE AND SHARE REPURCHASES
We compute earnings (loss) per share ("EPS") using the two-class method, which is an earnings (loss) allocation formula that determines earnings (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 income (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
 
Six Months Ended
 
 
June 30
 
June 30
(Shares in millions)
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
 
Net income (loss) attributable to Avon
 
$
28.8

 
$
19.0

 
$
(118.5
)
 
$
(149.3
)
Less: (Income) loss allocated to participating securities
 
(.1
)
 
.1

 
2.3

 
2.3

Income (loss) allocated to common shareholders
 
28.7

 
19.1

 
(116.2
)
 
(147.0
)
Denominator:
 
 
 
 
 
 
 
 
Basic EPS weighted-average shares outstanding
 
435.2

 
434.6

 
435.0

 
434.4

Diluted effect of assumed conversion of stock options
 
—

 
—

 
—

 
—

Diluted EPS adjusted weighted-average shares outstanding
 
435.2

 
434.6

 
435.0

 
434.4

Earnings (Loss) per Common Share:
 
 
 
 
 
 
 
 
Basic
 
$
.07

 
$
.04

 
$
(.27
)
 
$
(.34
)
Diluted
 
.07

 
.04

 
(.27
)
 
(.34
)

Amounts in the table above may not necessarily sum due to rounding.
During the three months ended June 30, 2015, we did not include stock options to purchase 12.2 million shares of Avon common stock in the calculation of diluted EPS because the exercise prices of those options were greater than the average market price, and during the six months ended June 30, 2015, we did not include stock options to purchase 13.9 million shares of Avon common stock in the calculation of diluted EPS as we had a net loss attributable to Avon. During the three months ended June 30, 2014, we did not include stock options to purchase 17.7 million shares of Avon common stock in the calculation of diluted EPS because the exercise prices of those options were greater than the average market price, and during the six months ended June 30, 2014, we did not include stock options to purchase 19.0 million shares of Avon common stock, respectively, in the calculation of diluted EPS as we had a net loss attributable to Avon. For the six months ended June 30, 2015 and 2014, when we had a net loss attributable to Avon, the inclusion of these shares would decrease the net loss per share, and therefore, their inclusion would be anti-dilutive.
We purchased approximately .3 million shares of Avon common stock for $2.5 during the first six months of 2015, as compared to approximately .6 million shares of Avon common stock for $9.0 during the first six months of 2014, primarily through acquisition of stock from employees in connection with tax payments upon vesting of restricted stock units, and in 2014, also through private transactions with a broker in connection with stock based obligations under our Deferred Compensation Plan.