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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share
Basic earnings (loss) per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding plus the dilutive effect, if any, of restricted stock units, or RSUs, market share units, or MSUs, performance shares, the potential exercise of outstanding stock options, deferred shares associated with our deferred compensation program for non-employee directors and the potential conversion of our $400 million of 10% convertible senior notes due 2018. The reconciliation of basic loss per share to diluted loss per share is shown in the following table.
 
Three months ended March 31,
 
(millions, except per-share data)
2013
 
2012
Income (loss) from continuing operations
$
2

 
$
(29
)
Income from discontinued operations
—

 
2

Net income (loss)
$
2

 
$
(27
)
 
 
 
 
Average common shares
108.4

 
105.7

Dilutive RSUs, MSUs, performance shares and stock options
2.7

 
—

Deferred shares associated with a deferred compensation program for non-employee directors
0.2

 
—

Average diluted common shares
111.3

 
105.7

 
 
 
 
Basic earnings (loss) per average common share:
 
 
 
Income (loss) from continuing operations
$
0.02

 
$
(0.28
)
Income from discontinued operations
—

 
0.02

Net income (loss)
$
0.02

 
$
(0.26
)
 
 
 
 
Diluted earnings (loss) per average common share:
 
 
 
Income (loss) from continuing operations
$
0.02

 
$
(0.28
)
Income from discontinued operations
—

 
0.02

Net income (loss)
$
0.02

 
$
(0.26
)
The diluted earnings (loss) per share for the three months of 2013 and 2012 was computed using the weighted average number of common shares outstanding during those periods. The approximately 35.1 million shares issuable upon conversion of our $400 million of 10% convertible senior notes due 2018 at the initial conversion price of $11.40 per share were not included in the computation of diluted loss per share for those periods because their inclusion would be anti-dilutive. Stock options, RSUs, MSUs and performance shares that were not included in the computation of diluted loss per share for those periods because their inclusion would be anti-dilutive were as follows:
 
Three months ended March 31,
(millions, common shares)
2013
 
2012
Stock options, RSUs, MSUs and performance shares
2.2

 
7.8