Net income (loss) per common share

9 Months Ended

Sep. 30, 2021

Net income (loss) per common share

Net income (loss) per common share

16. NET INCOME (LOSS) PER COMMON SHARE

The following table includes the calculation of basic and diluted net income (loss) per common share:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Income (loss) from continuing operations	$	14	$	84	$	(25)	$	6
Income from discontinued operations, net of tax		—		1		—		337
Net income (loss)	$	14	$	85	$	(25)	$	343
Weighted average number of common shares outstanding-basic		72.6		61.0		69.9		60.6
Weighted dilutive effect of equity awards		2.1		2.4		—		1.9
Weighted average number of common shares outstanding-diluted		74.7		63.4		69.9		62.5
Basic net income (loss) per common share:
Income (loss) from continuing operations	$	0.19	$	1.38	$	(0.36)	$	0.10
Income from discontinued operations, net of tax		—		0.02		—		5.56
Basic net income (loss) per common share	$	0.19	$	1.40	$	(0.36)	$	5.66
Diluted net income (loss) per common share:
Income (loss) from continuing operations	$	0.19	$	1.32	$	(0.36)	$	0.10
Income from discontinued operations, net of tax		—		0.02		—		5.39
Diluted net income (loss) per common share	$	0.19	$	1.34	$	(0.36)	$	5.49

The weighted average number of common shares outstanding for the three and nine months ended September 30, 2021 includes 10 million shares of the Company’s common stock issued in connection with the Offering completed on March 22, 2021. See Note 11 for further details.

For the three months ended September 30, 2021 and 2020, approximately 2 million and 1 million awards, respectively, and for the nine months ended September, 30 2021 and 2020, approximately 4 million and 1 million awards, respectively, were excluded from the diluted weighted average number of ordinary common shares outstanding calculation because their effect would have been anti-dilutive.