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Earnings Per Share
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

Note 16: Earnings Per Share

The following table presents the calculation of our basic and diluted earnings per share (“EPS”).  The weighted- average shares outstanding used to compute basic EPS and diluted EPS for the three months ended March 31, 2019 is 94,092,147 and 94,597,630, respectively, and for the three months ended March 31, 2018 is 98,620,957 and 99,487,013, respectively.  

 

 

 

Three Months Ended March 31,

 

($ and shares outstanding in millions, except per share amounts)

 

2019

 

 

2018

 

Basic EPS:

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net Income(1)

 

$

55

 

 

$

30

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

94

 

 

 

99

 

Basic EPS

 

$

0.59

 

 

$

0.31

 

Diluted EPS:

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net Income(1)

 

$

55

 

 

$

30

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

95

 

 

 

99

 

Diluted EPS

 

$

0.58

 

 

$

0.30

 

 

(1)

Net income for the three months ended March 31, 2019 and 2018 was $55,067,801 and $30,170,029, respectively. 

The dilutive effect of outstanding share-based compensation awards is reflected in diluted earnings per common share by application of the treasury stock method using average market prices during the period.

For the three months ended March 31, 2019 and 2018, we excluded 948,248 and 136,675 share-based compensation awards, respectively, because their effect would have been anti-dilutive under the treasury stock method.