XML 93 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings (Loss) Per Share (Notes)
 12 Months Ended
Dec. 31, 2011
Earnings Loss Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE [Text Block]
EARNINGS (LOSS) PER SHARE

We compute basic earnings (loss) per share by dividing net earnings (loss) attributable to Tesoro Corporation shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share include the effects of potentially dilutive shares, principally consisting of common stock options and unvested restricted stock, restricted stock units, market stock units and performance share awards outstanding during the period. Additionally, for the diluted earnings per share computation, net earnings (loss) attributable to Tesoro Corporation is reduced, where applicable, for the decrease in earnings from Tesoro’s limited partner unit ownership in TLLP that would have resulted assuming the incremental units related to TLLP’s equity incentive plans had been issued during the respective periods.

Share and per share calculations are presented below (in millions except per share amounts):
 
2011
 
2010
 
2009
Basic:
 
 
 
 
 
Net earnings (loss) attributable to Tesoro Corporation stockholders
$
546

 
$
(29
)
 
$
(140
)
Weighted average common shares outstanding
141.4

 
140.6

 
138.2

Basic Earnings (Loss) Per Share
$
3.86

 
$
(0.21
)
 
$
(1.01
)
Diluted:
 
 
 
 
 
Net earnings (loss) attributable to Tesoro Corporation stockholders
$
546

 
$
(29
)
 
$
(140
)
Weighted average common shares outstanding
141.4

 
140.6

 
138.2

Common stock equivalents
1.9

 
—

 
—

Total diluted shares
143.3

 
140.6

 
138.2

Diluted Earnings (Loss) Per Share
$
3.81

 
$
(0.21
)
 
$
(1.01
)


Potentially dilutive common stock equivalents that were excluded from the calculation of diluted earnings (loss) per share, as the effect of including such securities would have been anti-dilutive, were as follows (in millions):
 
2011
 
2010
 
2009
Common stock equivalents (a)
—

 
1.4

 
1.5

Stock options (b)
3.1

 
5.6

 
4.8

________________
(a)
For the years ended December 31, 2010 and 2009, common stock equivalents, including stock options, were excluded as a result of the net loss reported during the period.
(b)
Common stock options presented above were excluded as the exercise prices were greater than the average market price of the common stock during each respective reporting period.