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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2015
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 
 September 30,
Nine Months Ended 
 September 30,
(dollars and shares in millions, except per share amounts)
2015
2014
2015
2014
 
 
 
 
 
Net income (loss) from continuing operations
$
214

$
235

$
(12
)
$
556

Less:   Net income attributable to noncontrolling interests
26

13

43

29

Net income (loss) from continuing operations attributable to Cameron
188

222

(55
)
527

Income (loss) from discontinued operations, net of taxes
(1
)
3

431

31

Net income attributable to Cameron
$
187

$
225

$
376

$
558

 
 
 
 
 
Average shares outstanding (basic)
191

201

192

207

Common stock equivalents
1

2

—

1

Diluted shares
192

203

192

208

 
 
 
 
 
Basic earnings (loss) per share:
 

 

 

 

Continuing operations
0.99

1.11

(0.29
)
2.55

Discontinued operations
(0.01
)
0.01

2.25

0.15

Basic earnings per share
0.98

1.12

1.96

2.70

 
 
 
 
 
Diluted earnings (loss) per share:
 

 

 

 

Continuing operations
0.98

1.10

(0.29
)
2.53

Discontinued operations
(0.01
)
0.01

2.25

0.15

Diluted earnings per share
0.97

1.11

1.96

2.68
Schedule of treasury shares
Activity in the Company’s treasury shares were as follows:
 
Three Months Ended 
 September 30,
Nine Months Ended 
 September 30,
 
2015
2014
2015
2014
 
 
 
 
 
Treasury shares at beginning of period
71,671,246

60,027,350

68,139,027

41,683,164

Purchases of treasury shares
905,100

4,915,044

5,130,334

24,588,815

Net change in treasury shares owned by participants in nonqualified deferred compensation plans
(1,920
)
(1,440
)
(2,652
)
36,708

Treasury shares issued in satisfaction of stock option exercises and vesting of restricted stock units
(275,715
)
(132,881
)
(967,998
)
(1,500,614
)
Treasury shares at end of period
72,298,711

64,808,073

72,298,711

64,808,073

Average cost per share
$
49.48

$
71.43

$
46.11

$
63.38