Earnings Per Share

9 Months Ended

Sep. 30, 2020

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:	(in millions, except share and per share amounts)
Net income attributable to common shareholders	$	264	$	150	$	708	$	571
Denominator:
Weighted-average common shares outstanding for basic earnings per share	164,171,067		164,331,832		164,377,053		165,086,951
Weighted-average effect of dilutive securities:
Employee equity awards(1)	2,328,540		1,705,665		2,071,848		1,611,232
Contingent issuance of common stock(2)	992,247		992,247		330,749		330,749
Weighted-average common shares outstanding for diluted earnings per share	167,491,854		167,029,744		166,779,650		167,028,932
Basic and diluted earnings per share:
Basic earnings per share	$	1.61	$	0.91	$	4.31	$	3.46
Diluted earnings per share	$	1.58	$	0.90	$	4.25	$	3.42

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(1) PSUs, which are considered contingently issuable, are included in the computation of dilutive earnings per share on a weighted average basis when management determines that the applicable performance criteria would have been met if the performance period ended as of the date of the relevant computation.

(2) See “Non-Cash Contingent Consideration,” of Note 17, “Commitments, Contingencies and Guarantees,” for further discussion.

Securities that were not included in the computation of diluted earnings per share because their effect was antidilutive were immaterial for the three months ended September 30, 2019 and both the nine months ended September 30, 2020 and 2019. There were no securities excluded for the three months ended September 30, 2020.