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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
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): 
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Net income for basic EPS
$
245

 
$
16

 
$
290

Convertible debt interest, net of tax
1

 
—

 
4

Net income for diluted EPS
$
246

 
$
16

 
$
294

 
 
 
 
 
 
Basic weighted average shares outstanding
105.4

 
107.6

 
106.6

Options, warrants and non-vested stock
2.1

 
3.8

 
2.5

Convertible debt
3.1

 
—

 
12.5

Diluted weighted average shares outstanding
110.6

 
111.4

 
121.6

 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
Basic
$
2.32

 
$
0.15

 
$
2.72

 
Diluted
$
2.22

 
$
0.15

 
$
2.42
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 (shares in millions): 
 
As of December 31,
 
2014
 
2013
 
2012
Options (a)
—

 
—

 
0.2

Warrants (b)
—

 
—

 
7.9

Shares underlying convertible debt
—

 
4.0

 
—

__________
(a) 
The weighted average exercise price for anti-dilutive options for 2012 was $17.12.
(b) 
Represents all outstanding warrants for 2012. The exercise price for the warrants was $22.50.