These pro forma amounts may not be representative of future year pr o forma amount disclosures due to changes  in future market conditions and additional grants in future years. 60 Con Edison Annual Report 2003 Con Edison Con Edison of New York O&R (Millions of Dollars/Shares in Millions) 2003 2002 2001 2003 2002 2001 2003 2002 2001 Net income for common stock, as reported $528 $646 $682 $591 $605 $649 $45 $45 $40 Add: Stock-based compensation expense  included in reported net income,  net of related tax effects 3 6 3 3 6 3 - - - Deduct: Total stock-based compensation  expense determined under fair value method  for all awards, net of related tax effects 8 13 7 7 12 6 - - - Pro forma net income for common stock $523 $639 $678 $587 $599 $646 $45 $45 $40 Average number of shares outstanding – Basic 221 213 212 Add: Incremental shares attributable  to effect of dilutive securities 1 1 1 Average number of shares outstanding – Diluted 222 214 213 Earnings per share: Basic – as reported $2.39 $3.03 $3.22 Basic – pro forma $2.37 $3.00 $3.19 Diluted – as reported $2.38 $3.02 $3.21 Diluted – pro forma $2.36 $2.99 $3.18