EX-11.1 4 a47482exv11w1.htm EX-11.1 EX-11.1
Exhibit 11.1
COMPUTATION OF NET INCOME PER SHARE
(In millions, except share information)
                                                                                 
    For the Year Ended     For the Year Ended     For the Year Ended     For the Year Ended     For the Year Ended  
    December 31, 2008     December 31, 2007     December 31, 2006     December 31, 2005     December 31, 2004  
    Basic     Diluted     Basic     Diluted     Basic     Diluted     Basic     Diluted     Basic     Diluted  
Income (loss) before cumulative effect of a change in accounting principle
  $ (689.9 )   $ (689.9 )   $ 241.5     $ 241.5     $ (710.4 )   $ (710.4 )   $ (1,381.5 )   $ (1,381.5 )   $ 422.2     $ 422.2  
After-tax interest expense on convertible debt
                                                          9.3  
 
                                                           
 
                                                                               
Income (loss) before cumulative effect of a change in accounting principle, for diluted net income (loss) per share
    (689.9 )     (689.9 )     241.5       241.5       (710.4 )     (710.4 )     (1,381.5 )     (1,381.5 )     422.2       431.5  
Cumulative effect of a change in accounting principle, net of tax
                            2.9       2.9                          
 
                                                           
 
                                                                               
Net income (loss), for diluted net income (loss) per share
  $ (689.9 )   $ (689.9 )   $ 241.5     $ 241.5     $ (707.5 )   $ (707.5 )   $ (1,381.5 )   $ (1,381.5 )   $ 422.2     $ 431.5  
 
                                                           
 
                                                                               
Weighted average shares:
                                                                               
Common shares outstanding
    77,242,360       77,242,360       76,826,765       76,826,765       68,607,262       68,607,262       67,166,668       67,166,668       68,278,858       68,278,858  
Exercise of common stock equivalents (1)
                      1,387,483                                     1,635,349  
Shares issuable upon conversion of convertible debt (2)
                                                          4,813,056  
 
                                                           
 
                                                                               
Common and equivalent shares outstanding
    77,242,360       77,242,360       76,826,765       78,214,248       68,607,262       68,607,262       67,166,668       67,166,668       68,278,858       74,727,263  
 
                                                           
 
                                                                               
Per common and equivalent share:
                                                                               
Income (loss) before cumulative effect of a change in accounting principle
  $ (8.93 )   $ (8.93 )   $ 3.14     $ 3.09     $ (10.35 )   $ (10.35 )   $ (20.57 )   $ (20.57 )   $ 6.18     $ 5.77  
Cumulative effect of a change in accounting principle
                            0.04       0.04                          
 
                                                           
 
                                                                               
Net income (loss)
  $ (8.93 )   $ (8.93 )   $ 3.14     $ 3.09     $ (10.31 )   $ (10.31 )   $ (20.57 )   $ (20.57 )   $ 6.18     $ 5.77  
 
                                                           
 
(1)   Amount represents the number of common shares issued assuming the exercise of dilutive common stock equivalents, including stock options, restricted stock units, performance units and stock appreciation rights, reduced by the number of shares which could have been purchased with the proceeds from the exercise of such common stock equivalents.
 
(2)   Amount represents the number of common shares issued assuming the conversion of convertible debt outstanding.