Earnings Per Share Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 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   June 30,					Six Months Ended   June 30,
		2014		2013			2014		2013
Net income (loss) for basic EPS		$	26	$	(28	)	$	30	$	(74	)
Convertible note interest, net of tax		1		—			1		—
Net income (loss) for diluted EPS		$	27	$	(28	)	$	31	$	(74	)
Basic weighted average shares outstanding		105.1		108.4			105.8		108.0
Options, warrants and non-vested stock (a) (b)		1.9		—			2.0		—
Convertible debt (c)		4.0		—			4.0		—
Diluted weighted average shares outstanding		111.0		108.4			111.8		108.0
Earnings (loss) per share:
	Basic	$	0.25	$	(0.26	)	$	0.29	$	(0.69	)
	Diluted	$	0.24	$	(0.26	)	$	0.28	$	(0.69	)

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^(a)  For the three months ended June 30, 2014, there are no anti-dilutive securities which were excluded from the computation of diluted earnings per share. For the six months ended June 30, 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 and six months ended June 30, 2013, 1.2 million outstanding options, 4.6 million warrants and 3.5 million non-vested stock awards have an anti-dilutive effect and therefore were excluded from the computation of diluted weighted average shares outstanding.

^(c)  For the three and six months ended June 30, 2013, 4.6 million issuable shares underlying the 3½% convertible notes due 2014 have an anti-dilutive effect and therefore were excluded from the computation of diluted weighted average shares outstanding.