Earnings per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings per Share

22. Earnings per Share

Basic earnings per share for all periods presented equals net income (loss) divided by the weighted average number of our shares outstanding during the period including participating securities. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of our shares outstanding during the period including participating securities, adjusted for the dilutive effect of our stock options, restricted shares and performance units.

The following discloses basic and diluted weighted average shares outstanding:

	Successor	Predecessor
	Period From	Period From
	12/14/19	01/01/2019	Years Ended
	through	through	December 31,
(Shares in millions)	12/31/2019	12/13/2019	2018	2017
Basic and Diluted Weighted Average Shares Outstanding	70	1,004	997	990

Our basic and diluted weighted average shares outstanding for the 2019 Predecessor Period are equivalent as we believe including the dilutive impact of our Predecessor potential shares would not be meaningful as the potential shares were cancelled pursuant to the terms of the Plan.

Our basic and diluted weighted average shares outstanding for the Successor Period, and for the years ended December 31, 2018 and 2017, are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the Successor Period, and the years ended December 31, 2018 and 2017, exclude potential shares for stock options, restricted shares, performance units, exchangeable senior notes, warrants outstanding and the ESPP as we have net losses for those periods and their inclusion would be anti-dilutive. The following table discloses the number of shares excluded:

	Successor	Predecessor
	Period From	Period From
	12/14/19	01/01/2019	Years Ended
	through	through	December 31,
(Shares in millions)	12/31/2019	12/13/2019	2018	2017
Potential Shares Excluded	8	197	251	250