Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2020

The following table summarizes the basic and diluted earnings per share calculations (in millions, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income attributable to common shareholders - basic	$	145	$	201	$	395	$	478
Add: Net income attributable to noncontrolling interests	78		150		215		376
Net income available to common shareholders and noncontrolling interests - diluted	$	223	$	351	$	610	$	854

Denominator:
Weighted average common shares - basic	303		267		301		258
Exchange of noncontrolling interests for common shares (Note 12)	162		197		164		204
Effect of other dilutive securities	5		6		4		7
Weighted average common shares - diluted	470		470		469		469

Basic earnings per share (a)	$	0.48	$	0.76	$	1.31	$	1.85
Diluted earnings per share (a)	$	0.47	$	0.75	$	1.30	$	1.82
Anti-dilutive securities outstanding	8		3		8		3

(a) Earnings per share may not recalculate exactly as it is calculated based on unrounded numbers.