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Earnings Per Share
 9 Months Ended
Sep. 30, 2020
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,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

(in millions, except per share amounts)

 

 

(in millions, except per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income attributable to stockholders

 

$

(276

)

 

$

5

 

 

$

(1,223

)

 

$

183

 

Loss allocated to participating securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

Net (loss) income attributable to stockholders, net of earnings

   allocated to participating securities

 

$

(276

)

 

$

5

 

 

$

(1,223

)

 

$

182

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – basic

 

 

235

 

 

 

206

 

 

 

236

 

 

 

203

 

Unvested restricted shares

 

 

—

 

 

 

1

 

 

 

—

 

 

 

1

 

Weighted average shares outstanding – diluted

 

 

235

 

 

 

207

 

 

 

236

 

 

 

204

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) Earnings per share - Basic(1)

 

$

(1.17

)

 

$

0.02

 

 

$

(5.19

)

 

$

0.90

 

(Loss) Earnings per share - Diluted(1)

 

$

(1.17

)

 

$

0.02

 

 

$

(5.19

)

 

$

0.90

 

 

(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, 2020 and 2019 because their effect would have been anti-dilutive.