Net Loss Per Share

3 Months Ended

Mar. 31, 2013

Net Loss Per Share [Abstract]

Net Loss Per Share

NOTE 5 – NET LOSS PER SHARE

Basic net loss per share is computed based on the weighted average number of common shares outstanding for each period presented. Diluted net loss per share reflects the potential dilution that would have occurred if securities or other contracts to issue common stock were exercised, converted, or resulted in the issuance of common stock that would have then shared in our earnings.

The following table reconciles the numerator and denominator used in the basic and diluted net loss per share calculations for the periods presented:

	Three Months Ended
	March 31,
(In millions)	2013			2012
Numerator:
Loss from continuing operations	$	(34.8	)	$	(4.7	)
Discontinued operations, net of taxes		(8.5	)		(3.3	)
Net loss	$	(43.3	)	$	(8.0	)
Denominator:
Weighted-average common shares outstanding		100.4			99.8
Dilutive effect of stock-based awards		--			--
Weighted average shares for diluted net loss per share		100.4			99.8

The following table includes common stock equivalents that were not included in the calculation of diluted net loss per share for the periods presented. These securities could be dilutive in future periods.

	Three Months Ended
	March 31,
(In millions)	2013		2012
Employee stock options (1) (2)		10.1		7.7
Warrants to purchase common stock (3)		15.8		15.8
Convertible debt instruments (4)		9.1		15.8

(1)	For the first quarter of 2013, 9.9 million of these common stock equivalents were excluded because their exercise prices exceeded the average market price of our common stock during this period, and the effect of their inclusion would be antidilutive. The remaining 0.2 million of these common stock equivalents were excluded in 2013 because the effect of their inclusion would reduce our net loss per share and would be antidilutive.
(2)	For the first quarter of 2012, 6.4 million of these common stock equivalents were excluded because their exercise prices exceeded the average market price of our common stock during this period, and the effect of their inclusion would be antidilutive. The remaining 1.3 million of these common stock equivalents were excluded in 2012 because the effect of their inclusion would reduce our net loss per share and would be antidilutive.
(3)	These common stock equivalents were excluded because their exercise prices ($35.88 per share in both periods) exceeded the average market price of our common stock during these periods, and the effect of their inclusion would be antidilutive.
(4)	These common stock equivalents were excluded because their exercise prices ($23.77 per share in both periods) exceeded the average market price of our common stock during these periods, and the effect of their inclusion would be antidilutive.