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Earnings (Loss) Per Share (Notes)
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE
NOTE 10. EARNINGS (LOSS) PER SHARE


We calculate basic earnings (loss) per share by dividing the net income (loss) by the weighted average number of common shares outstanding. Shares issuable upon the satisfaction of certain conditions are considered outstanding and included in the computation of basic earnings (loss) per share.


The following table shows the computation of basic and diluted earnings (loss) per share:
 
Three Months Ended June 30,
Six Months Ended June 30,
(in millions, except per share data)
2011
2010
2011
2010
Net income (loss)
$
198


$
467


$
(120
)
$
211


 
 
 
 
 
Basic weighted average shares outstanding
838


834


838


833


Dilutive effects of share based awards
6
8
—


9
Diluted weighted average shares outstanding
844
842
838
842
 
 
 
 
 
Basic earnings (loss) per share
$
0.24


$
0.56


$
(0.14
)
$
0.25


Diluted earnings (loss) per share
$
0.23


$
0.55


$
(0.14
)
$
0.25


 
 
 
 
 
Antidilutive common stock equivalents excluded from diluted earnings (loss) per share
25
23
31
22




During the six months ended June 30, 2011, we issued nine million shares of common stock to settle the remaining bankruptcy claims under Delta's Plan of Reorganization. As of June 30, 2011, one million shares of Delta common stock were reserved for issuance to holders of allowed general, unsecured claims under Northwest's Plan of Reorganization. Delta and Northwest emerged from Chapter 11 in 2007.