Capital Stock and Earnings per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Capital Stock and Earnings per Share

17. Capital Stock and Earnings per Share

We are authorized to issue 250.0 million shares of preferred stock, none of which were issued or outstanding as of December 31, 2019.

The numerator for both basic and diluted earnings per share is net earnings available to common stockholders.  The denominator for basic earnings per share is the weighted average number of common shares outstanding during the period.  The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive stock options and other equity awards.  The following is a reconciliation of weighted average shares for the basic and diluted share computations (in millions):

	For the Years Ended December 31,
	2019		2018		2017
Weighted average shares outstanding for basic net    earnings per share		205.1		203.5		201.9
Effect of dilutive stock options and other    equity awards		1.6		-		1.8
Weighted average shares outstanding for diluted net    earnings per share		206.7		203.5		203.7

For the years ended December 31, 2019 and 2017, an average of 0.9 million and 1.0 million options, respectively, to purchase shares of common stock were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of the common stock.  Since we incurred a net loss in the year ended December 31, 2018, no dilutive stock options or other equity awards were included as diluted shares.