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Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share Text Block
Earnings Per Share:
     
The following is the calculation of basic and diluted weighted-average shares outstanding and earnings per share (EPS) for the indicated periods:
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2014
 
2013
 
2014
 
2013
 
 
(In millions, except per share data)
Income (numerator):
 
 
 
 
 
 
 
 
  Income (loss) from continuing operations
 
$
279

 
$
(4
)
 
$
280

 
$
77

  Income (loss) from discontinued operations, net of tax
 
(1
)
 
31

 
260

 
53

Net income (loss)
 
278

 
27

 
540

 
130

Repurchase of preferred shares of subsidiary(3)
 
—

 
(20
)
 
—

 
(20
)
Net income (loss) attributable to common shareholders
 
$
278

 
$
7

 
$
540

 
$
110

 
 
 
 
 
 
 
 
 
Weighted-average shares (denominator):
 
 

 
 

 
 

 
 

Weighted-average shares — basic
 
137

 
136

 
137

 
135

Dilution effect of stock options and unvested restricted stock and restricted stock units outstanding at end of period(1) (2)
 
1

 
—

 
1

 
1

Weighted-average shares — diluted
 
138

 
136

 
138

 
136

 
 
 
 
 
 
 
 
 
Earnings (loss) per share:
 
 

 
 

 
 

 
 

Basic:
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
2.04

 
$
(0.03
)
 
$
2.06

 
$
0.57

Income (loss) from discontinued operations before preferred share repurchase
 
—

 
0.23

 
1.90

 
0.39

Repurchase of preferred shares of subsidiary(3)
 
—

 
(0.15
)
 
—

 
(0.15
)
Income (loss) from discontinued operations
 
—

 
0.08

 
1.90

 
0.24

Basic earnings (loss) per share
 
$
2.04

 
$
0.05

 
$
3.96

 
$
0.81

Diluted:
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
2.02

 
$
(0.03
)
 
$
2.04

 
$
0.57

Income (loss) from discontinued operations before preferred share repurchase
 
—

 
0.23

 
1.88

 
0.39

Repurchase of preferred shares of subsidiary(3)
 
—

 
(0.15
)
 
—

 
(0.15
)
Income (loss) from discontinued operations
 
—

 
0.08

 
1.88

 
0.24

Diluted earnings (loss) per share
 
$
2.02

 
$
0.05

 
$
3.92

 
$
0.81

_______
(1)
    Excludes 0.3 million and 1.1 million shares of unvested restricted stock or restricted stock units and stock options for the three and nine months ended September 30, 2014 and 4.1 million shares for the nine months ended September 30, 2013 because including the effect would have been anti-dilutive.
(2)
The effect of unvested restricted stock or restricted stock units and stock options has not been included in the calculation of the shares outstanding for diluted EPS for the three months ended September 30, 2013, as their effect would have been anti-dilutive. Had we recognized income from continuing operations for this period, incremental shares attributable to the assumed vesting of unvested restricted stock and restricted stock units and the assumed exercise of outstanding stock options would have increased diluted weighted-average shares outstanding by 0.7 million shares for the three months ended September 30, 2013.
(3)
The numerator includes an adjustment of $20 million related to the repurchase of preferred shares of a now wholly-owned subsidiary, which reduces net income (loss) for purposes of earnings per share for the three and nine months ended September 30, 2013. The subsidiary is part of our discontinued operations. See Note 14, “Related-Party Transactions,” for additional information.