Three Months Ended March 31,
2011 (a)
2010
(Number of common shares in millions)
Net earnings (loss) from continuing operations . . . . . . . . . . . . . . . . $ (104) $ 357
Net earnings (loss) from discontinued operations . . . . . . . . . . . . . . (1) (2)
Net earnings (loss) attributable to Nortel Networks Corporation . . $ (105) $ 355
Basic weighted-average shares outstanding:
Issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 499 499
1.75% Convertible Senior Notes . . . . . . . . . . . . . . . . . . . . . . . — 18
2.125% Convertible Senior Notes . . . . . . . . . . . . . . . . . . . . . . — 18
Diluted weighted-average shares outstanding . . . . . . . . . . . . . 499 535
1.75% Convertible Senior Notes . . . . . . . . . . . . . . . . . . . . . . . 18 —
2.125% Convertible Senior Notes . . . . . . . . . . . . . . . . . . . . . . 18 —
Basic earnings (loss) per common share:
from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . $(0.21) $0.71
from discontinued operations . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ —
Diluted earnings (loss) per common share:
from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . $(0.21) $0.67
from discontinued operations . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ —
(a) As a result of the net loss for the three months ended March 31, 2011, all potential dilutive securities in this
period are considered anti-dilutive.
16. Shareholders’ deficit
The following are the changes in shareholders’ deficit during the three months ended March 31, 2011:
NNC
Common
Shares
Additional
Paid-in
Capital
Accumulated
Deficit
Accumulated
Other
Comprehensive
Loss
Non-controlling
Interests Total
Balance as of December 31,
2010 . . . . . . . . . . . . . . . . . . . . . . $35,604 $3,597 $(46,076) $(362) $621 $(6,616)
Net income (loss) . . . . . . . . . . . . . . — — (105) — 3 (102)
Foreign currency translation
adjustment . . . . . . . . . . . . . . . . . — — — (59) — (59)
Unamortized pension and postretirement actuarial losses and
prior service cost — net . . . . . . . — — — 88 — 88
Other . . . . . . . . . . . . . . . . . . . . . . . . — — — — 1 1
Balance as of March 31, 2011 . . . . $35,604 $3,597 $(46,181) $(333) $625 $(6,688)
AI
