Earnings Per Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share

Earnings Per Share

15. Earnings Per Share

The following table presents earnings attributable to common shareholders per weighted-average common share outstanding for the years ended December 31, 2013, 2012 and 2011:

	2013		2012			2011
Basic earnings per share:
Income from continuing operations attributable to common shareholders	$	3.69	$	3.54		$	3.01
Income (loss) from discontinued operations	—		(0.06		)	0.10
Earnings per share – basic	$	3.69	$	3.48		$	3.11
Diluted earnings per share:
Income from continuing operations attributable to common shareholders	$	3.66	$	3.50		$	2.99
Income (loss) from discontinued operations	—		(0.05		)	0.10
Earnings per share – diluted	$	3.66	$	3.45		$	3.09

Dilutive stock options and performance shares (which are contingently issuable) increased average common shares outstanding by approximately 822,000 shares in 2013, 1,017,000 shares in 2012 and 811,000 shares in 2011.  Total average common shares outstanding for the purposes of calculating diluted earnings per share were 110,805,943 shares in 2013, 110,527,311 shares in 2012 and 109,864,243 shares in 2011.

For the years ended 2013, 2012 and 2011, there were no common stock options that were excluded from the computation of diluted earnings per share as a result of the options’ exercise prices being greater than the average market price of the common shares.