Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2012

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

5.     Earnings (Loss) Per Share

Basic earnings (loss) per share are based on the weighted average number of common shares outstanding. Diluted earnings per share are based on the weighted average number of common shares outstanding plus the dilutive effect, if any, of restricted stock units, or RSUs, and performance shares, the potential exercise of outstanding stock options and the potential conversion of our $400 million of 10% convertible senior notes. The reconciliation of basic loss per share to diluted loss per share is shown in the following table:

(millions, except per-share and share data)	Net Loss		Shares (000)		Weighted Average Per-Share Amount
Three Months Ended March 31, 2012:
Basic loss		$    (27)		105,718	$	(0.26)
Diluted loss		$    (27)		105,718	$	(0.26)
Three Months Ended March 31, 2011:
Basic loss		$  (105)		103,021	$	(1.01)
Diluted loss		$  (105)		103,021	$	(1.01)

The diluted losses per share for the first quarters of 2012 and 2011 were computed using the weighted average number of common shares outstanding during each quarter. The approximately 35.1 million shares issuable upon conversion of the $400 million of 10% convertible senior notes we issued in 2008 at the initial conversion price of $11.40 per share were not included in the computation of the diluted loss per share for the first quarters of 2012 and 2011 because their inclusion was anti-dilutive. Stock options, RSUs and performance shares with respect to 7.8 million common shares and 7.3 million common shares were not included in the computation of diluted losses per share for the first quarters of 2012 and 2011, respectively, because their inclusion was anti-dilutive.