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Earnings (Loss) Per Share
9 Months Ended
Sep. 30, 2011
Earnings (Loss) Per Share 
Earnings (Loss) Per Share
10. The following table sets forth the computations of basic and diluted earnings (loss) per share (in millions, except per share data):

 

     Three Months Ended
September  30,
    Nine Months Ended
September  30,
 
     2011     2010     2011     2010  

Numerator:

        

Net earnings (loss) – numerator for basic earnings (loss) per share

   $ (162   $ 143      $ (884   $ (373

Interest on senior convertible notes

     —          7        —          —     

Net earnings (loss) adjusted for interest on senior convertible notes

   $ (162   $ 150      $ (884   $ (373
  

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

        

Denominator for basic earnings (loss) per share – weighted-average shares

     335        333        334        333   

Effect of dilutive securities:

        

Senior convertible notes

     —          47        —          —     

Employee options and shares

     —          26        —          —     

Assumed treasury shares purchased

     —          (17     —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Dilutive potential common shares

     335        56        334        333   

Denominator for diluted earnings (loss) per share – adjusted weighted-average shares

     335        389        334        333   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings (loss) per share

   $ (0.48   $ 0.43      $ (2.64   $ (1.12
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted earnings (loss) per share

   $ (0.48   $ 0.39      $ (2.64   $ (1.12
  

 

 

   

 

 

   

 

 

   

 

 

 

The following were excluded from the calculation:

        

Convertible notes, employee stock options and deferred stock because inclusion would be anti-dilutive

     48        —          53        57   

Employee stock options because the options' exercise prices were greater than the average market price of shares

     28        14        18        12