EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2013

Earnings Per Share Disclosure [Abstract]

Earnings Per Share Disclosure

2.       EARNINGS PER SHARE

Basic net income per common share attributable to TWC common shareholders is determined using the two-class method and is computed by dividing net income attributable to TWC common shareholders by the weighted average of common shares outstanding during the period. The two-class method is an earnings allocation formula that determines income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Diluted net income per common share attributable to TWC common shareholders reflects the more dilutive earnings per share amount calculated using the treasury stock method or the two-class method.

Set forth below is a reconciliation of net income attributable to TWC common shareholders per basic and diluted common share (in millions, except per share data):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
Net income attributable to TWC common shareholders		$	529	$	806	$	1,406	$	1,634
Net income allocated to participating securities(a)			3		2		8		8
Net income attributable to TWC shareholders		$	532	$	808	$	1,414	$	1,642
Average basic common shares outstanding			285.0		305.7		289.9		310.2
Dilutive effect of nonparticipating equity awards			1.9		2.0		1.7		2.0
Dilutive effect of participating equity awards(a)			2.1		2.5		2.2		2.6
Average diluted common shares outstanding			289.0		310.2		293.8		314.8
Net income per common share attributable to
	TWC common shareholders:
	Basic	$	1.86	$	2.64	$	4.85	$	5.27
	Diluted	$	1.84	$	2.60	$	4.81	$	5.22

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(a)The Company's restricted stock units granted to employees and non-employee directors are considered participating securities with respect to regular quarterly cash dividends.

Diluted net income per common share attributable to TWC common shareholders for the nine months endedSeptember 30,2012excludes 2.6 million common shares that may be issued under the Company's equity-based compensation plan because they do not have a dilutive effect. For thethree months endedSeptember 30,2013and 2012and for thenine months endedSeptember 30,2013, antidilutive common shares related to the equity-based compensation plan were insignificant.