E-Z-GO 2010 Annual Report Download - page 78

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66
The weighted-average shares outstanding for basic and diluted earnings per share are as follows:
(In thousands) 2010 2009 2008
Basic weighted-average shares outstanding
274,452
262,923
246,208
Dilutive effect of:
Convertible notes and warrants
27,450
—
—
Stock options, restrictive stock units and convertible preferred stock
653
—
4,130
Diluted weighted-average shares outstanding
302,555
262,923
250,338
In 2010 and 2008, stock options to purchase 7 million and 8 million shares, respectively, of common stock outstanding are excluded
from our calculation of diluted weighted-average shares outstanding as the exercise prices were greater than the average market price
of our common stock for those periods. These securities could potentially dilute earnings per share in the future. In 2009, the
potential dilutive effect of 8 million weighted-average shares of stock options, restricted stock units and the shares that could be issued
upon the conversion of our 4.50% Convertible Senior Notes and upon the exercise of the related warrants was excluded from the
computation of diluted weighted-average shares outstanding as the shares would have an anti-dilutive effect on the loss from
continuing operations.
Other Comprehensive Income (Loss)
The before and after-tax components of other comprehensive income (loss) are presented below:
(In millions)
Before-Tax
Amount
Tax (Expense)
Benefit
Net-of-Tax
Amount
2010
Foreign currency translation adjustment
$ 44
$ (46)
$ (2)
Deferred gains on hedge contracts
17
(3)
14
Pension adjustments
(186)
74
(112)
Recognition of foreign currency translation loss (see Note 11)
91
(17)
74
Other reclassification adjustments
49
(18)
31
Other comprehensive income
$ 15
$ (10)
$ 5
2009
Foreign currency translation adjustment
$ 16
$ 7
$ 23
Deferred gains on hedge contracts
90
(23)
67
Pension adjustments
6
(31)
(25)
Reclassification adjustments
30
(9)
21
Pension curtailment
25
(10)
15
Other comprehensive income
$ 167
$ (66)
$ 101
2008
Foreign currency translation adjustment
$ (210)
$ 15
$ (195)
Deferred losses on hedge contracts
(91)
18
(73)
Pension adjustments
(1,298)
495
(803)
Reclassification due to sale of Fluid & Power
31
4
35
Other reclassification adjustments
25
(11)
14
Other comprehensive loss
$ (1,543)
$ 521
$ (1,022)