The table below represents the computation of UAL basic and diluted earnings (loss) per share amounts and the number of securities that have been excluded from the computation of diluted earnings (loss) per share amounts because they were antidilutive (in millions, except per share amounts):


	Three Months Ended September 30,					Nine Months Ended September 30,
	2012		2011			2012			2011
UAL basic earnings (loss) per share:
Net income (loss)	$	6	$	653		$	(103	)	$	978
Less: Income allocable to participating securities		—		(2	)		—			(3	)

Earnings (loss) available to common stockholders	$	6	$	651		$	(103	)	$	975

Basic weighted average shares outstanding		331		330			331			329

Earnings (loss) per share, basic	$	0.02	$	1.97		$	(0.31	)	$	2.96

UAL diluted earnings (loss) per share:
Earnings (loss) available to common stockholders	$	6	$	651		$	(103	)	$	975
Effect of UAL 4.5% Senior Limited-Subordination Convertible Notes		—		2			—			31
Effect of Continental 4.5% Convertible Notes		—		2			—			7
Effect of Continental 6% Convertible Junior Subordinated Debentures		—		4			—			—
Effect of UAL 6% Senior Convertible Notes		—		4			—			13

Earnings (loss) available to common stockholders including the effect of dilutive securities	$	6	$	663		$	(103	)	$	1,026

UAL diluted shares outstanding:
Basic weighted average shares outstanding		331		330			331			329
Effect of stock options		1		1			—			2
Effect of UAL 4.5% Senior Limited-Subordination Convertible Notes		—		5			—			13
Effect of Continental 4.5% Convertible Notes		—		12			—			12
Effect of Continental 6% Convertible Junior Subordinated Debentures		—		4			—			—
Effect of UAL 6% Senior Convertible Notes		—		40			—			40

Diluted weighted average shares outstanding		332		392			331			396

Earnings (loss) per share, diluted	$	0.02	$	1.69		$	(0.31	)	$	2.59

UAL potentially dilutive shares excluded from diluted per share amounts:
Restricted stock and stock options		5		7			6			6
UAL 4.5% Senior Limited-Subordination Convertible Notes		5		—			5			—
Continental 4.5% Convertible Notes		12		—			12			—
Continental 6% Convertible Junior Subordinated Debentures		4		—			4			4
UAL 6% Senior Convertible Notes		40		—			40			—