Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2011

Earnings (loss) per share [Abstract]

Earnings (Loss) Per Share

2. Earnings (Loss) Per Share

Earnings (loss) per share of common stock outstanding were computed as follows:

	Year Ended December 31,
	2011		2010		2009
	(Millions Except Share and Per Share Amounts)
Basic earnings (loss) per share —
Net income (loss) attributable to Tenneco Inc.	$	157	$	39	$	(73	)
Average shares of common stock outstanding		59,884,139		59,208,103		48,572,463
Earnings (loss) per average share of common stock	$	2.62	$	0.65	$	(1.50	)
Diluted earnings (loss) per share —
Net income attributable to Tenneco Inc.	$	157	$	39	$	(73	)
Average shares of common stock outstanding		59,884,139		59,208,103		48,572,463
Effect of dilutive securities:
Restricted stock		168,539		441,561		—
Stock options		1,467,482		1,349,030		—
Average shares of common stock outstanding including dilutive securities		61,520,160		60,998,694		48,572,463
Earnings (loss) per average share of common stock	$	2.55	$	0.63	$	(1.50	)

Options to purchase 202,009 and 612,832 shares of common stock were outstanding as of December 31, 2011 and 2010, respectively, but not included in the computation of diluted earnings per share, because the options were anti-dilutive. As a result of the net loss in 2009, the calculation of diluted loss per share excludes the dilutive effect of options and restricted stock.