Earnings per Share
The denominator for basic and diluted earnings per share at December 31 is as follows:
|
| | | | | | | | |
| 2013 | | 2012 | | 2011 |
Denominator for basic earnings per share—weighted-average shares | 298.5 |
| | 321.5 |
| | 360.2 |
|
Effect of dilutive securities—employee stock options, non-vested restricted stock awards and convertible debentures | 5.3 |
| | 3.3 |
| | 4.9 |
|
Denominator for diluted earnings per share | 303.8 |
| | 324.8 |
| | 365.1 |
|
During the years ended December 31, 2013, 2012 and 2011, weighted-average shares related to certain stock options of 4.2, 12.6 and 10.5, respectively, were excluded from the denominator for diluted earnings per share because the stock options were anti-dilutive.
