EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Reconciliation of earnings and number of shares used in calculation of basic and diluted earnings per share

The table below illustrates the reconciliation of the earnings and number of shares used in our calculation of basic and diluted (loss) earnings per share attributable to common shareholders.


	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019(1)
Computation of Basic (Loss) Earnings Per Share Attributable to Common Shareholders
Net (loss) income attributable to common shareholders	$	(62)	$	(9)	$	(238)	$	64
Shares for basic (loss) earnings per share	41.2		43.4		41.3		44.5
Basic (loss) earnings per share	$	(1.51)	$	(0.21)	$	(5.76)	$	1.44
Computation of Diluted (Loss) Earnings Per Share Attributable to Common Shareholders
Net (loss) income attributable to common shareholders	$	(62)	$	(9)	$	(238)	$	64
Shares for basic (loss) earnings per share	41.2		43.4		41.3		44.5
Effect of dilutive shares outstanding
Employee stock options and SARs	—		—		—		0.3
Restricted stock units	—		—		—		0.3
Shares for diluted (loss) earnings per share	41.2		43.4		41.3		45.1
Diluted (loss) earnings per share	$	(1.51)	$	(0.21)	$	(5.76)	$	1.43

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(1)The computations of diluted earnings per share attributable to common shareholders exclude approximately 401,000 shares of common stock, the maximum number of shares issuable as of September 30, 2019, upon the vesting of certain performance-based awards, because the performance conditions required to be met for the shares subject to such awards to vest were not achieved by the end of the reporting period.