Earnings Per Share Earnings Per Share (Notes)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

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,
		2014		2013
Net income (loss) for basic and diluted EPS		$	4	$	(46	)
Basic weighted average shares outstanding		106.6		107.7
Options, warrants and non-vested stock (a) (b)		2.0		—
Convertible debt (c) (d)		—		—
Diluted weighted average shares outstanding		108.6		107.7
Earnings per share:
	Basic	$	0.03	$	(0.43	)
	Diluted	$	0.03	$	(0.43	)

__________

^(a)  For the three months ended March 31, 2014, the number of anti-dilutive securities which were excluded from the computation of diluted earnings per share was not significant.

^(b)  As the Company incurred a net loss for the three months ended March 31, 2013, 1.5 million outstanding options, 4.7 million warrants and 3.4 million non-vested stock awards have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.

^(c)  For the three months ended March 31, 2014, 4.0 million 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.

^(d)  For the three months ended March 31, 2013, 4.7 million 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.