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Earnings Per Share

12 Months Ended

Dec. 31, 2019

Note 19: 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 and diluted EPS for the year ended December 31, 2019 is 88,758,859 and 89,291,176, respectively. The weighted average shares outstanding used to compute basic and diluted EPS for the year ended December 31, 2018 is 97,209,889 and 97,898,242, respectively. The weighted average shares outstanding used to compute basic and diluted EPS for the year ended December 31, 2017 is 98,934,352 and 99,621,199, respectively.

	Year Ended December 31,
($ in millions, except per share amounts)	2019		2018		2017
Basic EPS
Numerator:
Net Income⁽¹⁾	$	216	$	298	$	327
Denominator:
Weighted average shares outstanding		89		97		99
Basic EPS	$	2.43	$	3.07	$	3.30
Diluted EPS
Numerator:
Net Income⁽¹⁾	$	216	$	298	$	327
Denominator:
Weighted average shares outstanding		89		98		100
Diluted EPS	$	2.42	$	3.05	$	3.28

⁽¹⁾	Net income for years ended December 31, 2019, 2018, and 2017 was $215,695,961; $298,124,983 and $326,777,744, 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 years ended December 31, 2019, 2018 and 2017, we excluded 836,677, 384,860 and 229,621 share-based compensation awards, respectively, because their effect would have been anti-dilutive under the treasury stock method.