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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Basic and Diluted 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.