Philip Morris International Inc. | 2013 | FY | 3

Earnings per Share:
Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in PMI’s earnings per share calculation pursuant to the two-class method.

Basic and diluted earnings per share (“EPS”) were calculated using the following:
 
For the Years Ended December 31,
(in millions)
2013
 
2012
 
2011
Net earnings attributable to PMI
$
8,576

 
$
8,800

 
$
8,591

Less distributed and undistributed earnings attributable to share-based payment awards
45

 
48

 
49

Net earnings for basic and diluted EPS
$
8,531

 
$
8,752

 
$
8,542

Weighted-average shares for basic EPS
1,622

 
1,692

 
1,761

Plus incremental shares from assumed conversions:
 
 
 
 
 
Stock options
—

 
—

 
1

Weighted-average shares for diluted EPS
1,622

 
1,692

 
1,762


For the 2013, 2012 and 2011 computations, there were no antidilutive stock options.


















53

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