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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
87
For the year ended December 31, 2011, all outstanding equity securities that were convertible into common stock
were included in the calculation of diluted EPS. A reconciliation of basic EPS and diluted EPS for the year ended
December 31, 2011 is as follows:
Income
(Numerator)
Weighted
Average
Shares
(Denominator)
Per
Share
Amount
(in millions, except per share data)
For the Year Ended December 31, 2011:
Basic EPS ............................................................................... $ 1,570 637 $ 2.47
Effect of Dilutive Securities:
Assumed conversion as of the beginning of the period
of preferred shares outstanding during the period:
Common shares assumed issued for 5.75% cumulative
convertible preferred stock ............................................. 86 55
Common shares assumed issued for 5.75% cumulative
convertible preferred stock (series A)............................. 63 39
Common shares assumed issued for 5.00% cumulative
convertible preferred stock (series 2005B)..................... 11 5
Common shares assumed issued for 4.50% cumulative
convertible preferred stock ............................................. 12 6
Participating securities ............................................................. 9
Outstanding stock options........................................................ 1
Diluted EPS ............................................................................ $ 1,742 752 $ 2.32