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

We calculate basic earnings per share by dividing the net income 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 per share.

The following table shows the computation of basic and diluted earnings per share:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in millions, except per share data)
2011
2010
 
2011
2010
Net income
$
549

$
363

 
$
429

$
574

 
 
 
 
 
 
Basic weighted average shares outstanding
838

835

 
838

834

Dilutive effects of share based awards
6
7

 
6

8

Diluted weighted average shares outstanding
844
842

 
844
842

 
 
 
 
 
 
Basic earnings per share
$
0.66

$
0.43

 
$
0.51

$
0.69

Diluted earnings per share
$
0.65

$
0.43

 
$
0.51

$
0.68

 
 
 
 
 
 
Antidilutive common stock equivalents excluded from diluted earnings per share
26
25

 
25
23



During the nine months ended September 30, 2011, we issued nine million and one million shares of common stock to settle the remaining bankruptcy claims under Delta's and Northwest's Plans of Reorganization, respectively. Delta and Northwest emerged from Chapter 11 in 2007.