
	For the three months ended
	March 31,
	2016		2015
	(in millions, except share/per share amounts)
Net income (loss)	$	(1,132)	$	78
Mandatory convertible preferred stock dividend		27		25
Net income (loss) attributable to shareholders		(1,159)		53
Participating securities - mandatory convertible preferred stock		–		7
Net income (loss) attributable to common stock	$	(1,159)	$	46

Number of common shares:
Weighted average outstanding		382,870,847		375,444,030
Issued upon assumed exercise of outstanding stock options (1)		–		–
Effect of issuance of non-vested restricted common stock (2)		–		133,634
Effect of issuance of non-vested performance units (3)		–		390
Effect of issuance of mandatory convertible preferred stock (4)		–		–
Effect of declaration of preferred stock dividends (5)		–		–
Weighted average and potential dilutive outstanding		382,870,847		375,578,054

Earnings (loss) per common share:
Basic	$	($3.03)	$	0.12
Diluted	$	($3.03)	$	0.12

(1)

Due to the net loss for the three months ended March 31, 2016, the unvested stock options were not recognized in diluted earnings per share calculations as they would be antidilutive. Options for 5,732,521 shares and 3,704,089 shares were excluded from the calculation of diluted shares for the three months ended March 31, 2016 and 2015, respectively, because they would have had an antidilutive effect.

(2)

Due to the net loss for the three months ended March 31, 2016, the unvested share-based payments were not recognized in diluted earnings per share calculations as they would be antidilutive. The calculation excluded 5,779,820 shares and 1,916,645 shares of restricted stock for the three months ended March 31, 2016 and 2015, respectively, because they would have had an antidilutive effect.

(3)

For the three months ended March 31, 2016, 297,297 shares of performance units were excluded from the calculation of diluted earnings per share as they would be antidilutive.

(4)

For the three months ended March 31, 2016 and 2015, 74,999,895 and 58,333,252, respectively, of weighted average common shares issuable upon the assumed conversion of the mandatory convertible preferred stock were excluded from the diluted earnings per share calculation as they would be antidilutive.

(5)

Due to the net loss for the three months ended March 31, 2016, 3,024,737 shares of common stock declared as preferred stock dividends were excluded from the diluted earnings per share calculations as they would have had an antidilutive effect.