(LOSS) EARNINGS PER SHARE

(Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc. for the three and six months ended June 30, 2017 and 2016 were calculated as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share amounts)	2017			2016			2017		2016
Net (loss) income attributable to Valeant Pharmaceuticals International, Inc.	$	(38	)	$	(302	)	$	590	$	(676	)

Basic weighted-average number of common shares outstanding	350.1			345.0			350.0		344.9
Diluted effect of stock options, RSUs and other	—			—			0.9		—
Diluted weighted-average number of common shares outstanding	350.1			345.0			350.9		344.9

(Loss) earnings per share attributable to Valeant Pharmaceuticals International, Inc.:
Basic	$	(0.11	)	$	(0.88	)	$	1.69	$	(1.96	)
Diluted	$	(0.11	)	$	(0.88	)	$	1.68	$	(1.96	)

During the three months ended June 30, 2017 and three months and six months ended June 30, 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 three months and six months ended June 30, 2016 calculation of diluted weighted-average number of common shares excludes excess tax benefits and tax deficiencies in the calculation of assumed proceeds under the treasury stock method prospectively effective January 1, 2016 due to the adoption of FASB guidance issued in 2016. Accordingly, the diluted weighted-average number of common shares outstanding previously reported increased by 0.3 million for the six months ended June 30, 2016. 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:



(in millions)	Three months ended June 30, 2017	Three months ended June 30, 2016	Six months ended June 30, 2016
Basic weighted-average number of common shares outstanding	350.1	345.0	344.9
Diluted effect of stock options, RSUs and other	1.3	4.1	4.8
Diluted weighted-average number of common shares outstanding	351.4	349.1	349.7

During the three and six months ended June 30, 2017, stock options, time-based RSUs and performance-based RSUs to purchase approximately 8,655,000 common shares of the Company, for both periods, were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive under the treasury stock method, compared with 7,075,000 and 6,854,000 common shares in both of the corresponding periods of 2016.