The following table sets
forth the computation of basic and diluted earnings (loss) per
share (in millions, except per share amounts):
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Year Ended
December 31, |
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2012 |
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2011 |
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2010 |
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Numerator:
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Net earnings
(loss)—numerator for basic earnings (loss)
per share
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$ |
(1,876 |
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$ |
(1,979 |
) |
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$ |
(471 |
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Denominator:
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Denominator for basic
earnings (loss) per share—weighted average shares
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335 |
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335 |
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333 |
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Effect of dilutive
securities:
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Employee options and
shares
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— |
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— |
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— |
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Assumed treasury shares
purchased
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— |
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— |
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— |
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Diluted potential common
shares
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— |
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— |
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— |
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Denominator for diluted
earnings loss per share—weighted-average shares
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335 |
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335 |
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333 |
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Basic earnings (loss) per
share
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$ |
(5.60 |
) |
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$ |
(5.91 |
) |
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$ |
(1.41 |
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Diluted earnings (loss) per
share
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$ |
(5.60 |
) |
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$ |
(5.91 |
) |
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$ |
(1.41 |
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The following were excluded
from the calculation:
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Convertible notes, employee
stock options and deferred stock because inclusion would be
anti-dilutive
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46 |
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51 |
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57 |
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Employee stock options
because the options’ exercise price was greater than the
average market price of the shares
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23 |
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20 |
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12 |
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