XML 63 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 9 Months Ended
Sep. 30, 2012
Earnings Per Share

Note 12: Earnings Per Share

 

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the dilutive effect of all stock options and other items outstanding during the period that could potentially result in the issuance of common stock. For the three months ended September 30, 2012 and 2011, there were 3,404,672 and 3,783,574, respectively, of stock options outstanding that were not included in the diluted earnings per share calculation because they were antidilutive. For the nine months ended September 30, 2012 and 2011, there were 3,457,769 and 3,804,671, respectively, of stock options outstanding that were not included in the diluted earnings per share calculation because they were antidilutive.

The following table presents the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2012 and 2011:

 

                                           
     Three Months Ended September 30,      Nine Months Ended September 30,  

$ in millions except share and per share amounts

    2012      2011      2012      2011  

Net income (loss)

    $ 7       $ 444       $ 598       $ (693)   

Basic weighted average shares(1)

      193,879,994         195,612,615         193,760,654         198,262,715   

Effect of common stock equivalents:

            

Stock options

      1,097,648         734,887         1,074,883         -    
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted average shares

      194,977,642         196,347,502         194,835,537         198,262,715   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income (loss) per common share:

            

Basic

    $ 0.04       $ 2.27       $ 3.09       $ (3.50)   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.04       $ 2.26       $ 3.07       $ (3.50)   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) -   Includes 5,524,396 and 5,038,788 of unvested restricted stock and units that receive nonforfeitable dividends or dividend equivalents for the three months ended September 30, 2012 and 2011, respectively. Includes 5,442,143 and 5,085,256 of unvested restricted stock and units that receive nonforfeitable dividends or dividend equivalents for the nine months ended September 30, 2012 and 2011, respectively.