Earnings Per Common Share

9 Months Ended

Sep. 30, 2020

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the nine and three months ended September 30, 2020 and 2019 (in millions, except per share amounts):


	Nine Months Ended September 30,				Three Months Ended September 30,
	2020		2019		2020		2019
Basic:
Net income attributable to Intercontinental Exchange, Inc.	$	1,563	$	1,485	$	390	$	529
Weighted average common shares outstanding	549		563		548		559
Basic earnings per common share	$	2.85	$	2.64	$	0.71	$	0.95
Diluted:
Weighted average common shares outstanding	549		563		548		559
Effect of dilutive securities - stock options and restricted shares	3		3		3		4
Diluted weighted average common shares outstanding	552		566		551		563
Diluted earnings per common share	$	2.83	$	2.62	$	0.71	$	0.94

Basic earnings per common share is calculated using the weighted average common shares outstanding during the period. Common equivalent shares from stock options and restricted stock awards, using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During the nine months ended September 30, 2020 and 2019, 358,000 and 437,000 outstanding stock options, respectively, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect. In addition, we have excluded warrants and preferred and common incentive units under the Bakkt Equity Incentive Plan because they are also antidilutive. Certain figures in the table above may not recalculate due to rounding.