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Earnings Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

Note 11: Earnings Per Share

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

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

(in millions, except per share amounts)

 

 

(in millions, except per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to stockholders

 

$

5

 

 

$

52

 

 

$

183

 

 

$

418

 

Earnings allocated to participating securities

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

(1

)

Net income attributable to stockholders, net of earnings

   allocated to participating securities

 

$

5

 

 

$

52

 

 

$

182

 

 

$

417

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – basic

 

 

206

 

 

 

200

 

 

 

203

 

 

 

204

 

Unvested restricted shares

 

 

1

 

 

 

1

 

 

 

1

 

 

 

1

 

Weighted average shares outstanding – diluted

 

 

207

 

 

 

201

 

 

 

204

 

 

 

205

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic EPS(1)

 

$

0.02

 

 

$

0.26

 

 

$

0.90

 

 

$

2.04

 

Diluted EPS(1)

 

$

0.02

 

 

$

0.26

 

 

$

0.90

 

 

$

2.04

 

 

(1)

Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

 

Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three and nine months ended September 30, 2019 and 2018 because their effect would have been anti-dilutive.