EX-11 2 v225535_ex11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS FOR THE SIX MONTHS ENDED JUNE 3
 
Exhibit 11
 
Statements Re: Computation of Per Share Earnings
 
(Dollars in millions except share data)
 
Three months ended June 30,
   
Six months ended June 30,
 
   
2011
   
2010
   
2011
   
2010
 
Numerator:
                       
Net income (loss)—basic and diluted
  $ (49 )   $ 27     $ 13     $ 95  
                                 
Denominator:
                               
Weighted-average common shares outstanding
    163,068,516       162,824,857       163,004,712       162,849,794  
Effect of stock based awards
    -       459,156       680,191       443,541  
Adjusted weighted-average shares
    163,068,516       163,284,013       163,684,903       163,293,335  
                                 
Earnings (loss) per share:
                               
Basic
  $ (0.30 )   $ 0.17     $ 0.08     $ 0.59  
Diluted
    (0.30 )     0.17       0.08       0.58  
                                 
Number of anti-dilutive stock based awards
    7,857,634       9,689,589       7,852,866       9,758,457  
Exercise price of anti-dilutive stock based awards
  $ 26.58-45.26     $ 26.58-45.26     $ 29.20-45.26     $ 26.58-45.26  
 
Due to the net loss in the second quarter of 2011, the assumed exercise of certain stock options was excluded from the computation of diluted loss per share.
 
Certain stock-based compensation awards were not included in the computation of diluted earnings per share for the three- and six-month periods ended June 30, 2011 and 2010, since inclusion of these awards would have anti-dilutive effects.