L-3 Holdings' Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2011

L Three Holdings' Earnings Per Common Share (Tables) [Abstract]

Reconciliation of basic and diluted earnings per share

	Third Quarter Ended						Year-to-Date Ended
	September 30,			September 24,			September 30,			September 24,
	2011			2010			2011			2010
	(in millions, except per share data)
Reconciliation of net income:
Net income	$	238		$	241		$	691		$	694
Net income attributable to noncontrolling interests		(3	)		(3	)		(9	)		(7	)
Net income allocable to participating securities		—			(1	)		(2	)		(4	)
Net income allocable to L-3 Holdings’ common shareholders	$	235		$	237		$	680		$	683
Earnings per share allocable to L-3 Holdings’ common shareholders:
Basic:
Weighted average common shares outstanding		103.5			114.0			106.0			115.1
Basic earnings per share:
Net income	$	2.27		$	2.08		$	6.42		$	5.93
Diluted:
Common and potential common shares:
Weighted average common shares outstanding		103.5			114.0			106.0			115.1
Assumed exercise of stock options		1.5			2.1			2.3			3.0
Unvested restricted stock awards		2.1			1.4			1.8			1.3
Employee stock purchase plan contributions		0.4			0.6			0.1			0.5
Performance unit awards		—			—			0.1			—
Assumed purchase of common shares for treasury		(2.7	)		(3.4	)		(3.1	)		(3.9	)
Assumed conversion of the CODES(1)		—			—			—			—
Common and potential common shares		104.8			114.7			107.2			116.0
Diluted earnings per share:
Net income	$	2.24		$	2.07		$	6.34		$	5.89

⁽¹⁾ L-3 Holdings’ CODES had no impact on diluted EPS for the quarter or year-to-date periods ended September 30, 2011 or September 24, 2010, respectively, because the average market price of L-3 Holdings common stock during these periods was less than the price at which the CODES would have been convertible into L-3 Holdings common stock. The conversion price was $97.79 during the quarter ended September 30, 2011.