Earnings Per Share



	2011		2010		2009
Net income (loss) available to Micron shareholders – Basic	$	167	$	1,850	$	(1,882	)
Net effect of assumed conversion of debt	—		93		—
Net income (loss) available to Micron shareholders – Diluted	$	167	$	1,943	$	(1,882	)

Weighted-average common shares outstanding – Basic	988.0		887.5		800.7
Net effect of dilutive equity awards, escrow shares and assumed conversion of debt	19.5		163.2		—
Weighted-average common shares outstanding – Diluted	1,007.5		1,050.7		800.7

Earnings (loss) per share:
Basic	$	0.17	$	2.09	$	(2.35	)
Diluted	0.17		1.85		(2.35		)

On May 7, 2010, in connection with the acquisition of Numonyx, we issued 137.7 million shares of our common stock and issued 4.8 million restricted stock units. Of the common stock issued, 21 million shares were held in escrow as partial security for Numonyx shareholders indemnity obligations. During 2011, the Numonyx shareholders sold all of the 21 million shares in escrow. The shares held in escrow were included in diluted earnings per share but were excluded from basic earnings per share. (See "Numonyx" note.)

Listed below are the potential common shares, as of the end of the periods shown, that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share because to do so would have been antidilutive:



	2011	2010	2009
Employee stock plans	81.4	92.2	126.0
Convertible notes	182.7	—	142.8

Our 2027 Notes and 2031 Notes contain terms that on conversion require us to settle the aggregate principal amount of the notes in cash and the remainder of our conversion obligation amount in either shares of our common stock or cash, at our election. As a result of these terms, the 88.7 million underlying shares for these convertible notes as of September 1, 2011 are considered in diluted earnings per share under the treasury stock method. (See "Debt" note.)