Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2012

Computation of Basic and Diluted Earnings Per Share

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

	Year Ended December 31,
	2012		2011 (a)		2010
Net income (loss) for basic EPS	$	290	$	(29)	$	54
Convertible debt interest, net of tax		4		-		7
Net income (loss) for diluted EPS	$	294	$	(29)	$	61
Basic weighted average shares outstanding		106.6		105.2		103.1
Options, warrants and non-vested stock		2.5		-		2.4
Convertible debt		12.5		-		21.2
Diluted weighted average shares outstanding		121.6		105.2		126.7
Earnings (loss) per share:
Basic	$	2.72	$	(0.28)	$	0.53
Diluted	$	2.42	$	(0.28)	$	0.49

^(a)  As the Company incurred a net loss in 2011, all outstanding stock options, restricted stock units, stock warrants and issuable shares underlying the convertible notes 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 period.

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:

	Year Ended December 31,
	2012		2011		2010
Options (a)		0.2		3.4		1.4
Warrants (b)		7.9		21.2		21.2
Shares underlying convertible debt		-		21.2		-

^(a)  Represents all outstanding stock options for 2011. The weighted average exercise price for anti-dilutive options for 2012 and 2010 was $17.12 and $23.28, respectively.

^(b)  Represents all outstanding warrants for 2012, 2011 and 2010. The exercise price for the warrants is $22.50.