72 UNITED TECHNOLOGIES CORPORATION NOTE 4: EARNINGS PER SHARE NOTE 5: COMMERCIAL AEROSPACE INDUSTRY ASSETS AND COMMITMENTS We also have other contractual commitments, including commitments to secure certain contractual rights to provide prod- uct on new aircraft platforms. Payments made on these contractual commitments are included within other intangible assets and are to be amortized as the related OEM and aftermarket units are deliv- ered over the estimated program life. Our commercial aerospace financing and other contractual commitments as of December 31, 2012 were approximately $10.9 billion, which include approximately $5.8 billion of IAE commitments. We have entered into certain col- laboration arrangements, which may include participation by our collaboration partners in these commitments. The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock appreciation rights and stock options when the average market price of the common stock is lower than the exercise price of the related stock awards during the period. These outstanding stock awards are not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. For 2012, there were 4.7 million anti-dilutive stock awards excluded from the computation. For 2011, there were no anti-dilutive stock awards excluded from the computation. For 2010, the number of stock awards excluded from the computation was 11.4 million. There was no impact on diluted earnings per share due to our equity unit offer- ing in 2012. Financing commitments, in the form of secured debt, guar- antees or lease financing, are provided to commercial aerospace customers. The extent to which the financing commitments will be utilized is not currently known, since customers may be able to obtain more favorable terms from other financing sources. We may also arrange for third-party investors to assume a portion of these commitments. If financing commitments are exercised, debt financ- ing is generally secured by assets with fair market values equal to or exceeding the financed amounts with interest rates established at the time of funding. We may also lease aircraft and subsequently sublease the aircraft to customers under long-term non-cancelable operating leases. In some instances, customers may have minimum lease terms that result in sublease periods shorter than our lease obligation. Lastly, we have made residual value and other guaran- tees related to various commercial aerospace customer financing arrangements. The estimated fair market values of the guaranteed assets equal or exceed the value of the related guarantees, net of existing reserves. We have receivables and other financing assets with commercial aerospace industry customers totaling $5,731 million and $3,736 million at December 31, 2012 and 2011, respectively. Customer financing assets related to commercial aerospace industry custom- ers consist of products under lease of $644 million and notes and leases receivable of $584 million. (DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS; SHARES IN MILLIONS) 2012 2011 2010 Net income attributable to common shareowners: Net income from continuing operations $ 4,847 $ 4,831 $ 4,195 Net income from discontinued operations 283 148 178 Net income attributable to common shareowners $ 5,130 $ 4,979 $ 4,373 Basic weighted average number of shares outstanding 895.2 892.3 907.9 Stock awards 11.4 14.5 14.8 Diluted weighted average number of shares outstanding 906.6 906.8 922.7 Earnings Per Share of Common Stock— Basic: Net income from continuing operations $ 5.41 $ 5.41 $ 4.62 Net income from discontinued operations 0.32 0.17 0.20 Net income attributable to common shareowners 5.73 5.58 4.82 Earnings Per Share of Common Stock— Diluted: Net income from continuing operations $ 5.35 $ 5.33 $ 4.55 Net income from discontinued operations 0.31 0.16 0.19 Net income attributable to common shareowners 5.66 5.49 4.74