Three Months Ended
June 30,

Six Months Ended
June 30,

(in millions, except per share amounts)

2011

2010

2011

2010

Basic

Net income (loss), as reported

$

(364

)

$

670

$

475

$

1,317

Preferred stock dividends

—

(1

)

(1

)

Participating share-based awards — allocated income

(2

)

(5

)

(4

)

(10

)

Net income (loss) available to common shareholders — basic

$

(366

)

$

665

$

470

$

1,306

Diluted

Net income (loss) available to common shareholders

$

(366

)

$

665

$

470

$

1,306

Effect of dilutive securities:

Convertible preferred stock

—

1

Net income (loss) available to common shareholders — diluted

$

(366

)

$

665

$

471

$

1,307

Common shares

Basic

Weighted average shares outstanding

418.6

484.5

423.3

496.3

Diluted

Weighted average shares outstanding

418.6

484.5

423.3

496.3

Weighted average effects of dilutive securities:

Stock options and performance shares

—

4.5

4.4

4.5

Convertible preferred stock

—

1.8

1.4

1.8

Total

418.6

490.8

429.1

502.6

Net Income (Loss) per Common Share

Basic

$

(0.88

)

$

1.37

$

1.11

$

2.63

Diluted

$

(0.88

)

$

1.35

$

1.10

$

2.60