Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Earnings Per Share, Basic and Diluted

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 September 30, 2019 was 85,704,321 and 86,272,979, respectively, and for the nine months ended September 30, 2019 was 89,863,807 and 90,348,418, respectively. The weighted-average shares outstanding used to compute basic EPS and diluted EPS for the three months ended September 30, 2018 was 96,840,685 and 97,432,015, respectively, and for the nine months ended September 30, 2018 was 97,407,644 and 98,142,238, respectively.

	Three Months Ended September 30,				Nine Months Ended September 30,
($ and shares outstanding in millions, except per share amounts)	2019		2018		2019		2018
Basic EPS:
Numerator:
Net Income⁽¹⁾	$	50	$	41	$	144	$	178
Denominator:
Weighted average shares outstanding		86		97		90		97
Basic EPS	$	0.59	$	0.42	$	1.61	$	1.82
Diluted EPS:
Numerator:
Net Income⁽¹⁾	$	50	$	41	$	144	$	178
Denominator:
Weighted average shares outstanding		86		97		90		98
Diluted EPS	$	0.59	$	0.42	$	1.60	$	1.81

⁽¹⁾	Net income for the three months ended September 30, 2019 and 2018 was $50,659,927 and $40,533,279, respectively, and for the nine months ended September 30, 2019 and 2018 was $144,352,584 and $177,564,538, respectively.