The following table provides a reconciliation between basic and diluted earnings
per share for the years ended December 31, 2000, 1999 and 1998:
|
Millions, Except Per Share Amounts |
|
2000 |
|
1999 |
|
1998 |
|
Income Statement Data: |
|
|
|
|
|
|
|
Income (loss) from continuing operations |
|
$ 842 |
|
$ 783 |
|
$ (633) |
Income (loss) available to common shareholders from continuing operations |
|
842 |
|
783 |
|
(633) |
Gain on disposal of discontinued operations |
|
|
|
27 |
|
|
|
|
Net income (loss) available to common shareholders Basic |
|
842 |
|
810 |
|
(633) |
Dilutive effect of interest associated with the CPS [a] |
|
58 |
|
58 |
|
|
|
|
Net income (loss) available to common shareholders Diluted |
|
$ 900 |
|
$ 868 |
|
$ (633) |
|
Weighted Average Number of Shares Outstanding: |
|
|
|
|
|
|
|
Basic |
|
246.5 |
|
246.6 |
|
246.0 |
|
Dilutive effect of common stock equivalents [b] |
|
23.0 |
|
23.2 |
|
|
|
Diluted |
|
269.5 |
|
269.8 |
|
246.0 |
|
Earnings Per Share Basic: |
|
|
|
|
|
|
|
Income (loss) from continuing operations |
|
$3.42 |
|
$3.17 |
|
$(2.57) |
|
Income from discontinued operations |
|
|
|
0.11 |
|
|
|
Net income (loss) |
|
$3.42 |
|
$3.28 |
|
$(2.57) |
|
Earnings Per Share Diluted: [b] |
|
|
|
|
|
|
|
Income (loss) from continuing operations |
|
$3.34 |
|
$ 3.12 |
|
$(2.57) |
|
Income from discontinued operations |
|
|
|
0.10 |
|
|
|
Net income (loss) |
|
$3.34 |
|
$ 3.22 |
|
$(2.57) |
|
[a] 1998 excluded the anti-dilutive impact of $44 million
of interest associated with the Convertible Preferred Securities (note
7).
[b] Excluded the effect of anti-dilutive common stock equivalents
related to options and Convertible Preferred Securities (note
7), which were 1.4 million and 16.3 million, respectively, at December 31,
1998.
|