Earnings per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share, Basic and Diluted [Abstract]

Earnings per Share

. Earnings per ShareThe following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net (loss) income per share computations for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions, except per share data)	2020		2019		2020		2019
Net (loss) income attributable to Caesars	$	(926)	$	37	$	(1,202)	$	94
Shares outstanding:
Weighted average shares outstanding – basic	152		78		104		78
Effect of dilutive securities:
Stock-based compensation awards	—		1		—		1
Weighted average shares outstanding – diluted	152		79		104		79
Basic (loss) income per share from continuing operations	$	(6.09)	$	0.48	$	(11.55)	$	1.21
Basic loss per share from discontinued operations	—		—		(0.01)		—
Net (loss) income per common share attributable to common stockholders – basic:	$	(6.09)	$	0.48	$	(11.56)	$	1.21
Diluted (loss) income per share from continuing operations	$	(6.09)	$	0.47	$	(11.55)	$	1.20
Diluted loss income per share from discontinued operations	—		—		(0.01)		—
Net (loss) income per common share attributable to common stockholders – diluted:	$	(6.09)	$	0.47	$	(11.56)	$	1.20

For a period in which the Company generated a net loss, the weighted average shares outstanding - basic was used in calculating diluted loss per share because using diluted shares would have been anti-dilutive to loss per share.

Weighted-Average Number of Anti-Dilutive Shares Excluded from Calculation of EPS

	Three Months Ended September 30,		Nine Months Ended September 30,
(In millions)	2020	2019	2020	2019
Stock-based compensation awards	3	—	7	—
5% Convertible notes	8	—	8	—
Total anti-dilutive common stock	11	—	15	—