United Airlines 2012 Annual Report Download - page 98

Table of Contents
The adjustments to earnings (loss) available to common stockholders are net of the related effect of profit sharing and income taxes, where applicable.
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The computations of Continental Predecessor’s basic and diluted earnings per share for the periods Continental had outstanding publicly-traded equity
securities are set forth below (in millions, except per share amounts):
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Net income $ 441
Earnings available to common stockholders $ 441
Basic weighted-average shares outstanding 140
Earnings per share, basic $ 3.16
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Earnings available to common stockholders $ 441
Effect of 5% convertible notes 10
Effect of 6% convertible junior subordinated debentures 10
Effect of 4.5% convertible notes 7
Earnings available to common stockholders
including the effect of dilutive securities $ 468
Basic weighted-average shares outstanding 140
Effect of 4.5% convertible notes 12
Effect of 5% convertible notes 9
Effect of 6% convertible junior subordinated debentures 4
Effect of employee stock options 2
Dilutive weighted-average shares outstanding 167
Earnings per share, diluted $ 2.81
The adjustments to earnings available to common stockholders are net of the related effect of profit sharing and income taxes, where applicable.
Approximately two million weighted average options to purchase shares of Continental common stock for the nine months ended September 30, 2010 were
excluded from the computation of diluted earnings per share because the effect of including the options would have been antidilutive.
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Prior to the Merger, UAL and Continental maintained separate share-based compensation plans. These plans provide for grants of qualified and non-qualified
stock options, stock appreciation rights, restricted stock awards, RSUs, performance compensation awards, performance units, cash incentive awards and
other types of equity-based and equity-related awards. As part of the Merger, UAL assumed all of Continental’s outstanding share-based compensation plans.
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