Net income per share (Tables)

6 Months Ended

Jun. 30, 2017

Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]

Reconciliation of earnings attributable to common shares, basic and diluted

The following table reconciles the Company’s earnings from operations and earnings attributable to common stockholders to the basic and diluted earnings used to determine the Company’s earnings per share amounts for the three and six months ended June 30,2017 and 2016, respectively, under the two-class method:

				Three Months Ended				Six Months Ended
			June 30,				June 30,
(in millions)			2017		2016		2017		2016
Net income (loss) as reported			$	152	$	(266)	$	802	$	(1,286)
Participating basic earnings (a)				(1)		-		(6)		-
	Basic earnings attributable to common stockholders			151		(266)		796		(1,286)
Reallocation of participating earnings				-		-		-		-
	Diluted earnings attributable to common stockholders		$	151	$	(266)	$	796	$	(1,286)
(a)		Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.

Reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding

The following table is a reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and sixmonths ended June 30,2017 and 2016:

			Three Months Ended		Six Months Ended
			June 30,		June 30,
(in thousands)			2017	2016	2017	2016
Weighted average common shares outstanding:
	Basic		147,304	130,400	147,071	129,398
		Dilutive common stock options	-	-	6	-
		Dilutive performance units	462	-	581	-
	Diluted		147,766	130,400	147,658	129,398

Summary of performance units which were not included in the computation of diluted net income per share

The following table is a summary of the performance units that were not included in the computation of diluted earnings per share, as inclusion of these items would be antidilutive:

		Three Months Ended		Six Months Ended
		June 30,		June 30,
(in thousands)		2017	2016	2017	2016
Number of antidilutive units:
	Antidilutive performance units	107	-	108	-