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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE

The following table provides a reconciliation of the basic and diluted loss or income per common share:
 
Year Ended December 31,
 
2017
 
2018
 
2019
Net income (loss) available to common shareholders (in millions)
$
(30
)
 
$
171

 
$
96

Weighted average common shares outstanding - basic (in thousands)
34,432

 
34,514

 
34,625

Dilutive shares from stock awards (in thousands)
—

 
582

 
509

Weighted average common shares outstanding - diluted (in thousands)
34,432

 
35,096

 
35,134

Basic income (loss) per share
$
(0.87
)
 
$
4.97

 
$
2.78

Diluted income (loss) per share
$
(0.87
)
 
$
4.88

 
$
2.74


 
As a result of the net loss from continuing operations for the year ended December 31, 2017, 0.6 million restricted stock units were excluded from the calculation of diluted earnings per share as their inclusion would be anti-dilutive. As of December 31, 2019, Verso has 1.8 million warrants outstanding at an exercise price of $27.86 (see Note 13). As a result of the exercise price of the warrants exceeding the average market price of Verso’s common stock during the years ended December 31, 2017, 2018 and 2019, 1.8 million warrants were excluded from the calculations of diluted earnings per share for the periods presented as their inclusion would be anti-dilutive. There were no cash dividends declared or paid in the periods presented and therefore no dilutive effect (see Note 13 for details on the non-cash dividend declared on June 16, 2019 related to the stockholder rights plan).