Earnings Per Share

3 Months Ended

Mar. 31, 2019

Note 11: Earnings Per Share

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

	Three Months Ended March 31,
	2019		2018
	(in millions, except per share amounts)
Numerator:
Net income attributable to stockholders	$	96	$	150
Earnings allocated to participating securities		—	—
Net income attributable to stockholders net of earnings allocated to participating securities	$	96	$	150
Denominator:
Weighted average shares outstanding – basic		201		211
Unvested restricted shares		1		1
Weighted average shares outstanding – diluted		202		212

Basic EPS⁽¹⁾	$	0.48	$	0.71
Diluted EPS⁽¹⁾	$	0.48	$	0.71

⁽¹⁾	Per share amounts are calculated based on unrounded numbers.

Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three months ended March 31, 2019 and 2018 because their effect would have been anti-dilutive.