TIME WARNER INC. | 2013 | FY | 3


11. INCOME PER COMMON SHARE

 

Set forth below is a reconciliation of Basic and Diluted income per common share from continuing operations attributable to Time Warner Inc. common shareholders (millions, except per share amounts):

    Year Ended December 31,
   2013 2012 2011
         
 Income from continuing operations attributable to Time Warner Inc.          
  shareholders: $ 3,554 $ 2,925 $ 2,886
 Income allocated to participating securities   (16)   (18)   (15)
 Income from continuing operations attributable to Time Warner Inc.          
  common shareholders  $ 3,538 $ 2,907 $ 2,871
           
           
 Average number of common shares outstanding — basic   920.0   954.4   1,046.2
 Dilutive effect of equity awards   22.6   21.9   18.3
           
 Average number of common shares outstanding — diluted   942.6   976.3   1,064.5
           
 Income per common share from continuing operations attributable to          
  Time Warner Inc. common shareholders:         
  Basic $ 3.85 $ 3.05 $ 2.74
  Diluted $ 3.77 $ 3.00 $ 2.71

The computation of diluted income per common share from continuing operations for the years ended December 31, 2013, 2012 and 2011 excludes certain equity awards for which common shares that may be issued under the Company's stock compensation plans because they do not have a dilutive effect as set forth below (millions):

    Year Ended December 31,
   2013 2012 2011
         
 Antidilutive equity awards:   -   25   72

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