The following table provides the detailed calculation of Earnings per common share (EPS): | ||||||||||||
Year Ended December 31, | ||||||||||||
(IN MILLIONS) | 2013 | 2012 | 2011 | |||||||||
EPS Numerator––Basic | ||||||||||||
Income from continuing operations | $ | 11,410 | $ | 9,021 | $ | 7,860 | ||||||
Less: Net income attributable to noncontrolling interests | 30 | 28 | 40 | |||||||||
Income from continuing operations attributable to Pfizer Inc. | 11,380 | 8,993 | 7,820 | |||||||||
Less: Preferred stock dividends––net of tax | 2 | 2 | 2 | |||||||||
Income from continuing operations attributable to Pfizer Inc. common shareholders | 11,378 | 8,991 | 7,818 | |||||||||
Discontinued operations––net of tax | 10,662 | 5,577 | 2,189 | |||||||||
Less: Discontinued operations––net of tax, attributable to noncontrolling interests | 39 | — | — | |||||||||
Discontinued operations––net of tax, attributable to Pfizer Inc. common shareholders | 10,623 | 5,577 | 2,189 | |||||||||
Net income attributable to Pfizer Inc. common shareholders | $ | 22,001 | $ | 14,568 | $ | 10,007 | ||||||
EPS Numerator––Diluted | ||||||||||||
Income from continuing operations attributable to Pfizer Inc. common shareholders and assumed conversions | $ | 11,380 | $ | 8,993 | $ | 7,820 | ||||||
Discontinued operations––net of tax, attributable to Pfizer Inc. common shareholders and assumed conversions | 10,623 | 5,577 | 2,189 | |||||||||
Net income attributable to Pfizer Inc. common shareholders and assumed conversions | $ | 22,003 | $ | 14,570 | $ | 10,009 | ||||||
EPS Denominator | ||||||||||||
Weighted-average number of common shares outstanding––Basic | 6,813 | 7,442 | 7,817 | |||||||||
Common-share equivalents: stock options, stock issuable under employee compensation plans and convertible preferred stock | 82 | 66 | 53 | |||||||||
Weighted-average number of common shares outstanding––Diluted | 6,895 | 7,508 | 7,870 | |||||||||
Stock options that had exercise prices greater than the average market price of our common stock issuable under employee compensation plans(a) | 43 | 177 | 272 | |||||||||
(a) | These common stock equivalents were outstanding for the years ended December 31, 2013, 2012 and 2011, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect. |