EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

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

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



(in millions, except per share amounts)	2021(1)		2020		2019(1)
Computation of Basic Earnings or Loss Per Share Attributable to Common Shareholders
Net income (loss) attributable to common shareholders	$	49	$	(275)	$	138
Shares for basic earnings (loss) per share	42.5		41.3		43.9
Basic earnings (loss) per share	$	1.15	$	(6.65)	$	3.13
Computation of Diluted Earnings or Loss Per Share Attributable to Common Shareholders
Net income (loss) attributable to common shareholders	$	49	$	(275)	$	138
Shares for basic earnings (loss) per share	42.5		41.3		43.9
Effect of dilutive shares outstanding(2)
Employee SARs	0.2		—		0.3
Restricted stock units	0.5		—		0.3
2022 Convertible Notes	0.1		—		—

Shares for diluted earnings (loss) per share	43.3		41.3		44.5
Diluted earnings (loss) per share	$	1.13	$	(6.65)	$	3.09

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(1)The computations of diluted earnings per share attributable to common shareholders exclude approximately 166,000 and 345,000 shares of common stock, the maximum number of shares issuable as of December 31, 2021 and December 31, 2019, respectively, 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.

(2)For 2020, the following potentially dilutive securities were excluded from the above calculation of diluted net loss per share attributable to common shareholders during the periods presented, as the effects of including these securities would have been anti-dilutive.


(in millions)									2020
Employee SARs									0.1
Restricted stock units									0.3


									0.4

Schedule of antidilutive securities excluded from computation of earnings per share

the following potentially dilutive securities were excluded from the above calculation of diluted net loss per share attributable to common shareholders during the periods presented, as the effects of including these securities would have been anti-dilutive.


(in millions)									2020
Employee SARs									0.1
Restricted stock units									0.3


									0.4