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(Loss) Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2011

(Loss) Earnings Per Share [Abstract]

Calculation of basic and diluted Earnings (loss) Per Share

The following table summarizes the calculations of basic and diluted (loss) earnings per share attributable to PHH Corporation for the periods indicated:


		Three Months								Six Months
		Ended June 30,								Ended June 30,
		2011				2010				2011				2010
		(In millions, except share and per share data)

Net (loss) income attributable to PHH Corporation		$	(41	)		$	(133	)		$	8			$	(125	)

Weighted-average common shares outstanding — basic			56,374,448				55,547,650				56,242,221				55,293,111
Effect of potentially dilutive securities:
Share-based payment arrangements⁽¹⁾			—				—				619,926				—
Conversion of debt securities⁽²⁾			—				—				897,245				—

Weighted-average common shares outstanding — diluted			56,374,448				55,547,650				57,759,392				55,293,111

Basic (loss) earnings per share attributable to PHH Corporation		$	(0.73	)		$	(2.40	)		$	0.14			$	(2.26	)
Diluted (loss) earnings per share attributable to PHH Corporation		$	(0.73	)		$	(2.40	)		$	0.14			$	(2.26	)


⁽¹⁾		Represents incremental shares from restricted stock units and stock options.

⁽²⁾		Represents assumed conversion of the 2012 Convertible notes.