Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Calculation of basic and diluted earnings per share

The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in millions, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Net income from continuing operations	$	220	$	136	$	342	$	283
Net income attributable to noncontrolling interests		12		–		17		–
Net income from continuing operations attributable to Cameron		208		136		325		283
Income from discontinued operations, net of taxes		13		4		7		6
Net income attributable to Cameron	$	221	$	140	$	332	$	289
Average shares outstanding (basic)		204		247		209		247
Common stock equivalents		1		1		2		2
Diluted shares		205		248		211		249
Basic earnings per share:
Continuing operations	$	1.02	$	0.55	$	1.55	$	1.15
Discontinued operations		0.06		0.02		0.04		0.02
	$	1.08	$	0.57	$	1.59	$	1.17
Diluted earnings per share:
Continuing operations	$	1.02	$	0.55	$	1.54	$	1.14
Discontinued operations		0.06		0.02		0.04		0.02
	$	1.08	$	0.57	$	1.58	$	1.16

Schedule of treasury shares

Activity in the Company's treasury shares were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Treasury shares at beginning of period		56,109,636			15,768,832			41,683,164			16,415,336
Purchases of treasury shares		4,516,668			1,500,002			19,673,771			2,113,455
Net change in treasury shares owned by participants in nonqualified deferred compensation plans		(1,614	)		(1,068	)		38,148			52,107
Treasury shares issued in satisfaction of stock option exercises and vesting of restricted stock units		(597,340	)		(266,036	)		(1,367,733	)		(1,579,168	)
Treasury shares at end of period		60,027,350			17,001,730			60,027,350			17,001,730