Three Months Ended
June 30,

Six Months Ended
June 30,

(in millions, except per share amounts)

2012

2011

2012

2011

Basic

Net income (loss), as reported

$

499

$

(364

)

$

1,305

$

475

Participating share-based awards — allocated income

(4

)

(2

)

(10

)

(4

)

Preferred stock dividends

—

(1

)

Net income (loss) available to common shareholders — basic

$

495

$

(366

)

$

1,295

$

470

Diluted

Net income (loss) available to common shareholders

$

495

$

(366

)

$

1,295

$

470

Effect of dilutive securities:

Convertible preferred stock

—

1

Net income (loss) available to common shareholders — diluted

$

495

$

(366

)

$

1,295

$

471

Common Shares

Basic

Weighted average shares outstanding

388.0

418.6

390.0

423.3

Diluted

Weighted average shares outstanding

388.0

418.6

390.0

423.3

Weighted average effects of dilutive securities:

Stock options and performance shares

3.6

—

3.5

4.4

Convertible preferred stock

—

1.4

Total

391.6

418.6

393.5

429.1

Net Income (Loss) per Common Share

Basic

$

1.27

$

(0.88

)

$

3.32

$

1.11

Diluted

$

1.26

$

(0.88

)

$

3.29

$

1.10