
	For the three months ended				For the six months ended
	June 30,				June 30,
	2016		2015		2016		2015
	(in millions, except share/per share amounts)
Net loss	$	(593)	$	(788)	$	(1,725)	$	(710)
Mandatory convertible preferred stock dividend		27		27		54		52
Net loss attributable to shareholders	$	(620)	$	(815)	$	(1,779)	$	(762)

Number of common shares:
Weighted average outstanding		385,594,815		382,114,011		384,232,831		378,797,446
Issued upon assumed exercise of outstanding stock options (1)		–		–		–		–
Effect of issuance of non-vested restricted common stock (2)		–		–		–		–
Effect of issuance of non-vested performance units (3)		–		–		–		–
Effect of issuance of mandatory convertible preferred stock (4)		–		–		–		–
Effect of declaration of preferred stock dividends (5)		–		–		–		–
Weighted average and potential dilutive outstanding		385,594,815		382,114,011		384,232,831		378,797,446

Loss per common share (6):
Basic	$	(1.61)	$	(2.13)	$	(4.63)	$	(2.01)
Diluted	$	(1.61)	$	(2.13)	$	(4.63)	$	(2.01)

(1)

Due to the net loss for the three and six months ended June 30, 2016 and 2015, the unvested stock options were not recognized in diluted earnings per share calculations as they would be antidilutive. Options for 4,028,819 shares and 4,781,109 shares were excluded from the calculation of diluted shares for the three and six months ended June 30, 2016, respectively, because they would have had an antidilutive effect. Options for 3,832,533 shares and 3,768,666 shares were excluded from the calculation of diluted shares for the three and six months ended June 30, 2015, respectively, because they would have had an antidilutive effect.

(2)

Due to the net loss for the three and six months ended June 30, 2016 and 2015, the unvested share-based payments were not recognized in diluted earnings per share calculations as they would be antidilutive. The calculation excluded 3,353,371 shares and 2,844,365 shares of restricted stock for the three and six months ended June 30, 2016, respectively, because they would have had an antidilutive effect. The calculation excluded 1,507,788 shares and 1,787,257 shares of restricted stock for the three and six months ended June 30, 2015, respectively, because they would have had an antidilutive effect.

(3)

Due to the net loss for the three and six months ended June 30, 2016, 780,920 shares and 577,624 shares, respectively, of performance units were excluded from the calculation of diluted earnings per share as they would have had an antidilutive effect. Due to the net loss for the three and six months ended June 30, 2015, the calculation excluded 129,202 shares and 116,185 shares, respectively, of performance units as they would have had an antidilutive effect.

(4)

Due to the net loss for the three and six months ended June 30, 2016, 74,999,895 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, respectively, as they would be antidilutive. Due to the net loss for the three and six months ended June 30, 2015, 72,723,440 and 64,687,701 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, respectively, as they would be antidilutive.

(5)

Due to the net loss for the three months ended June 30, 2016, 2,100,119 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.

(6)

Does not include the effect of 98,900,000 shares of common stock issued in July 2016.