Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

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,
	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.