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Earning Per Common Share
 3 Months Ended
Mar. 31, 2012
Earning Per Common Share [Abstract]  
Earnings Per Common Share Note M: Earnings Per Common Share
M. Reconciliations of the numerators and denominators used in the computations of basic and diluted earnings per common share were as follows, in millions:

 

                 
    Three Months Ended
March  31,		  
    2012     2011  

Numerator (basic and diluted):

                

Income (loss) from continuing operations

   $ 38     $ (41 ) 

Allocation to unvested restricted stock awards

     (1 )      (1 ) 
   

 

 

    

 

 

  

Income (loss) from continuing operations attributable to common shareholders

   $ 37     $ (42 ) 

Loss from discontinued operations, net

     (5 )      (5 ) 
   

 

 

    

 

 

  

Net income (loss) available to common shareholders

   $ 32     $ (47 ) 
   

 

 

    

 

 

  
     

Denominator:

                

Basic common shares (based upon weighted average)

     349       349  

Add:

                

Contingent common shares

     —         —    

Stock option dilution

     1       —    
   

 

 

    

 

 

  

Diluted common shares

     350       349  
   

 

 

    

 

 

  

For the three months ended March 31, 2012 and 2011, the Company allocated dividends to the unvested restricted stock awards (participating securities).

Additionally, 34 million and 39 million common shares for the three months ended March 31, 2012 and 2011, respectively, related to stock options were excluded from the computation of diluted earnings per common share due to their antidilutive effect.

In the first three months of 2012, the Company granted 675,110 shares of long-term stock awards; to offset the dilutive impact of these awards, the Company also repurchased and retired 675,110 shares of Company common stock, for cash aggregating approximately $8 million. At March 31, 2012, the Company had 24 million shares of its common stock remaining under the July 2007 Board of Directors repurchase authorization.

On the basis of amounts paid (declared), cash dividends per common share were $.075 ($.075) and $.075 ($.075), respectively, for the three months ended March 31, 2012 and 2011.