Note 10: Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share (“EPS”):

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in millions, except per share amounts)						(in millions, except per share amounts)
Numerator:
Net income attributable to stockholders	$	216		$	112		$	366		$	2,462
Earnings allocated to participating securities		(1	)		(1	)		(1	)		(6	)
Net income attributable to stockholders net of earnings allocated to participating securities	$	215		$	111		$	365		$	2,456
Denominator:
Weighted average shares outstanding - basic		200			214			205			208
Unvested restricted shares		1			1			1			—
Net effect of shares issued with respect to E&P Dividend⁽¹⁾		—			—			—			6
Weighted average shares outstanding - diluted		201			215			206			214

Basic EPS⁽²⁾	$	1.07		$	0.52		$	1.77		$	11.79
Diluted EPS⁽²⁾	$	1.07		$	0.52		$	1.77		$	11.48

⁽¹⁾	Shares issued in connection with the distribution of our C corporation earnings and profits attributable to the period prior to spin-off (“E&P Dividend”).

⁽²⁾	Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented, therefore, the sum of the quarterly EPS does not equal the EPS for the six months.

Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three and six months ended June 30, 2018 and 2017, because their effect would have been anti-dilutive.