Earnings per Share

9 Months Ended

Sep. 30, 2015

Basic earnings per share for all periods presented equals net income divided by the weighted average number of our shares outstanding during the period including participating securities. Diluted earnings per share is computed by dividing net income by the weighted average number of our shares outstanding during the period including participating securities, adjusted for the dilutive effect of our stock options, restricted shares and performance units.

The following discloses basic and diluted weighted average shares outstanding:



	Three Months Ended September 30,		Nine Months Ended September 30,
(Shares in millions)	2015	2014	2015	2014
Basic weighted average shares outstanding	779	777	778	776
Dilutive effect of:
Stock options, restricted shares and performance units	—	7	—	—
Diluted weighted average shares outstanding	779	784	778	776

Our diluted weighted average shares outstanding for the three months ended September 30, 2014 exclude potential shares that are anti-dilutive, such as options where the exercise price exceeds the current market price of our stock. Diluted weighted average shares outstanding for the three and nine months ended September 30, 2015 and nine months ended September 30, 2014 exclude potential shares for stock options, restricted shares and performance units outstanding as we have net losses for that period and their inclusion would be anti-dilutive.

The following table discloses the number of anti-dilutive shares excluded:



	Three Months Ended September 30,		Nine Months Ended September 30,
(Shares in millions)	2015	2014	2015	2014
Anti-dilutive potential shares due to net loss	3	—	3	6