EARNINGS (LOSS) PER SHARE

Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc. for the three and nine months ended September 30, 2017 and 2016 were calculated as follows:



	Three Months Ended September 30,					Nine Months Ended September 30,
(in millions, except per share amounts)	2017		2016			2017		2016
Net income (loss) attributable to Valeant Pharmaceuticals International, Inc.	$	1,301	$	(1,218	)	$	1,891	$	(1,894	)

Basic weighted-average number of common shares outstanding	350.4		349.5			350.1		346.5
Diluted effect of stock options, RSUs and other	1.9		—			1.3		—
Diluted weighted-average number of common shares outstanding	352.3		349.5			351.4		346.5

Earnings (loss) per share attributable to Valeant Pharmaceuticals International, Inc.:
Basic	$	3.71	$	(3.49	)	$	5.40	$	(5.47	)
Diluted	$	3.69	$	(3.49	)	$	5.38	$	(5.47	)

During the three months and nine months ended September 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 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 September 30, 2016	Nine months ended September 30, 2016
Basic weighted-average number of common shares outstanding	349.5	346.5
Diluted effect of stock options, RSUs and other	0.8	3.4
Diluted weighted-average number of common shares outstanding	350.3	349.9

During the three and nine months ended September 30, 2017, stock options, time-based RSUs and performance-based RSUs to purchase approximately 7,601,000 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 8,300,000 common shares in both of the corresponding periods of 2016.