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Earnings Per Share
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Note 11: 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,
 
(dollars and shares in millions, except per share amounts)
 
2015
  
2014
  
2015
  
2014
 
         
Net income (loss) from continuing operations
 
$
152
  
$
210
  
$
(226
)
 
$
320
 
Less:            Net income attributable to noncontrolling interests
  
15
   
12
   
17
   
16
 
Net income (loss) from continuing operations attributable to Cameron
  
137
   
198
   
(243
)
  
304
 
Income from discontinued operations, net of taxes
  
3
   
23
   
432
   
28
 
Net income attributable to Cameron
 
$
140
  
$
221
  
$
189
  
$
332
 
                 
Average shares outstanding (basic)
  
191
   
204
   
192
   
209
 
Common stock equivalents
  
1
   
1
   
–
   
2
 
Diluted shares
  
192
   
205
   
192
   
211
 
                 
Basic earnings (loss) per share:
                
Continuing operations
 
$
0.71
  
$
0.97
  
$
(1.27
)
 
$
1.46
 
Discontinued operations
  
0.02
   
0.11
   
2.25
   
0.13
 
Basic earnings per share
 
$
0.73
  
$
1.08
  
$
0.98
  
$
1.59
 
                 
Diluted earnings (loss) per share:
                
Continuing operations
 
$
0.71
  
$
0.97
  
$
(1.27
)
 
$
1.44
 
Discontinued operations
  
0.02
   
0.11
   
2.25
   
0.13
 
Diluted earnings per share
 
$
0.73
  
$
1.08
  
$
0.98
  
$
1.57
 

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

  
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
  
2015
  
2014
  
2015
  
2014
 
         
Treasury shares at beginning of period
  
71,543,192
   
56,109,636
   
68,139,027
   
41,683,164
 
Purchases of treasury shares
  
278,700
   
4,516,668
   
4,225,234
   
19,673,771
 
Net change in treasury shares owned by participants in nonqualified deferred compensation plans
  
(599
)
  
(1,614
)
  
(732
)
  
38,148
 
Treasury shares issued in satisfaction of stock option exercises and vesting of restricted stock units
  
(150,047
)
  
(597,340
)
  
(692,283
)
  
(1,367,733
)
Treasury shares at end of period
  
71,671,246
   
60,027,350
   
71,671,246
   
60,027,350
 
Average cost per share
 
$
46.35
  
$
63.00
  
$
45.38
  
$
61.37
 

At June 30, 2015, the Company had remaining authority for future stock purchases totaling approximately $285 million.