(LOSS) EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2016

(Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc. for the three-month periods ended March 31, 2016 and 2015 were calculated as follows:



	Three Months Ended March 31,
	2016			2015 (restated)
Net (loss) income attributable to Valeant Pharmaceuticals International, Inc.	$	(373.7	)	$	97.7

Basic weighted-average number of common shares outstanding	344.9			336.8
Diluted effect of stock options, RSUs and other^(a)	—			6.6
Diluted weighted-average number of common shares outstanding	344.9			343.4

(Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc.:
Basic	$	(1.08	)	$	0.29
Diluted	$	(1.08	)	$	0.28

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(a)

In the three-month period ended March 31, 2016, all potential common shares issuable for stock options and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for stock options and RSUs on the weighted-average number of common shares outstanding would have been as follows:



		Three Months Ended March 31
		2016
Basic weighted-average number of common shares outstanding		344.9
Diluted effect of stock options, RSUs and other		4.8
Diluted weighted-average number of common shares outstanding		349.7

In the three-month period ended March 31, 2016 and 2015, stock options to purchase approximately 1,118,000 and 143,000 common shares of the Company, respectively, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive under the treasury stock method.