Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2013

Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (shares in millions):



	Three Months Ended March 31,
	2013			2012
Net loss	$	(46	)	$	(23	)
Basic and diluted weighted average shares outstanding ^(a)	107.7			105.9
Earnings per share:
Basic and diluted	$	(0.43	)	$	(0.22	)

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^(a)

As the Company incurred a net loss for the three months ended March 31, 2013 and 2012, all outstanding stock options, restricted stock units, stock warrants and issuable shares underlying the 3½% convertible notes due 2014 have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding. Accordingly, basic and diluted weighted average shares outstanding are equal for such periods.

Outstanding Common Stock Equivalents That Were Anti-Dilutive

The following table summarizes the Company’s outstanding common stock equivalents that were anti-dilutive and therefore excluded from the computation of diluted EPS:



	Three Months Ended March 31,
	2013	2012
Options ^(a)	1.5	2.8
Warrants ^{(b) (c)}	4.7	15.0
Shares underlying 3½% convertible notes ^(c)	4.7	15.0

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^(a)	For the three months ended March 31, 2013 and 2012, all outstanding stock options were anti-dilutive, as the Company incurred a net loss; such options had a weighted average exercise price of $2.16 and $3.74, respectively.


^(b)	Represents all outstanding warrants as of March 31, 2013 and 2012, which had an exercise price of $22.50.


^(c)	The decrease in the number of warrants and the number of shares underlying the 3½% convertible notes that were anti-dilutive was related to the Company’s repurchase of a portion of its 3½% convertible notes and warrants (see Note 11—Long-term Debt and Borrowing Arrangements and Note 14—Stockholders’ Equity for more information).