Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share

Note 11: Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the dilutive effect of all stock options and other items outstanding during the period that could potentially result in the issuance of common stock. For the three months ended March 31, 2013 and 2012, there were 3,045,974 and 3,559,044, respectively, of stock options outstanding that were not included in the diluted earnings per share calculation because they were antidilutive.

The following table presents the computation of basic and diluted earnings per share for the three months ended March 31, 2013 and 2012:

	Three Months Ended March 31,
$ in millions except share and per share amounts	2013		2012
Net income (loss)	$	164	$	10
Basic weighted average shares(1)		194,523,933		193,489,424
Effect of common stock equivalents:
Stock options		1,108,027		1,105,550
Diluted weighted average shares		195,631,960		194,594,974
Net income (loss) per common share:
Basic	$	0.84	$	0.05
Diluted	$	0.84	$	0.05

(1) - Includes 6,125,599 and 5,219,053 of unvested restricted stock and units that receive nonforfeitable dividends or dividend equivalents for the three months ended March 31, 2013 and 2012, respectively.