EARNINGS PER SHARE OF COMMON STOCK
Set forth below is a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the periods indicated:
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| | | | | | | | | |
| 2013 | 2012 | 2011 |
Numerator: | |
| |
| |
|
Income from continuing operations after income taxes attributable to DuPont | $ | 2,849 |
| $ | 2,447 |
| $ | 3,192 |
|
Preferred dividends | (10 | ) | (10 | ) | (10 | ) |
Income from continuing operations after income taxes available to DuPont common stockholders | $ | 2,839 |
| $ | 2,437 |
| $ | 3,182 |
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Income from discontinued operations after income taxes | $ | 1,999 |
| $ | 308 |
| $ | 367 |
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|
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Net income available to common stockholders | $ | 4,838 |
| $ | 2,745 |
| $ | 3,549 |
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Denominator: |
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|
|
| |
|
Weighted-average number of common shares outstanding – Basic | 925,984,000 |
| 933,275,000 |
| 928,417,000 |
|
Dilutive effect of the company's employee compensation plans | 7,163,000 |
| 8,922,000 |
| 12,612,000 |
|
Weighted average number of common shares outstanding – Diluted | 933,147,000 |
| 942,197,000 |
| 941,029,000 |
|
The weighted-average number of common shares outstanding in 2013 decreased as a result of the company's repurchase and retirement of its common stock, partially offset by the issuance of new shares from the company's equity compensation plans. The weighted-average number of common shares outstanding in 2012 increased as a result of the issuance of new shares from the company's equity compensation plans, partially offset by the company's repurchase and retirement of its common stock (see Notes 19 and 17, respectively).
The following average number of stock options are antidilutive and therefore, are not included in the diluted earnings per share calculation:
|
| | | | | | |
| 2013 | 2012 | 2011 |
Average number of stock options | 2,596,000 |
| 12,158,000 |
| 4,361,000 |
|
The change in the average number of stock options that were antidilutive in 2013 and 2012 was primarily due to changes in the company's average stock price.
