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Earnings per Share and Share Repurchases
 9 Months Ended
Sep. 30, 2015
Earnings Per Share Reconciliation [Abstract]  
Earnings per Share and Share Repurchases
EARNINGS (LOSS) 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
 
Nine Months Ended
 
 
September 30
 
September 30
(Shares in millions)
 
2015
 
2014
 
2015
 
2014
Numerator:
 
 
 
 
 
 
 
 
Net (loss) income attributable to Avon
 
$
(697.0
)
 
$
91.4

 
$
(815.5
)
 
$
(57.9
)
Less: Loss (income) allocated to participating securities
 
11.1

 
(.8
)
 
12.8

 
1.6

(Loss) income allocated to common shareholders
 
(685.9
)
 
90.6

 
(802.7
)
 
(56.3
)
Denominator:
 
 
 
 
 
 
 
 
Basic EPS weighted-average shares outstanding
 
435.4

 
434.6

 
435.1

 
434.4

Diluted effect of assumed conversion of stock options
 
—

 
—

 
—

 
—

Diluted EPS adjusted weighted-average shares outstanding
 
435.4

 
434.6

 
435.1

 
434.4

(Loss) Earnings per Common Share:
 
 
 
 
 
 
 
 
Basic
 
$
(1.58
)
 
$
.21

 
$
(1.84
)
 
$
(.13
)
Diluted
 
(1.58
)
 
.21

 
(1.84
)
 
(.13
)

Amounts in the table above may not necessarily sum due to rounding.
During the three and nine months ended September 30, 2015, we did not include stock options to purchase 11.9 million shares and 13.2 million shares, respectively, of Avon common stock in the calculation of diluted EPS as we had a net loss attributable to Avon. During the three months ended September 30, 2014, we did not include stock options to purchase 17.2 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. During the nine months ended September 30, 2014, we did not include stock options to purchase 18.4 million shares of Avon common stock in the calculation of diluted EPS as we had a net loss attributable to Avon. For the three and nine months ended September 30, 2015 and the nine months ended September 30, 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 .4 million shares of Avon common stock for $3.0 during the first nine months of 2015, as compared to approximately .6 million shares of Avon common stock for $9.4 during the first nine months of 2014, 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.