(Loss) Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

(Loss) Earnings Per Share

Note 20: (Loss) Earnings Per Share

The following table presents the calculation of our basic and diluted (loss) earnings per share (“EPS”).   The weighted average shares outstanding used to compute basic and diluted EPS for the year ended December 31, 2020 is 85,181,106. 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.

	Year Ended December 31,
($ in millions, except per share amounts)	2020			2019		2018
Basic EPS
Numerator:
Net (loss) income(1)	$	(201	)	$	216	$	298
Denominator:
Weighted average shares outstanding		85			89		97
Basic EPS	$	(2.36	)	$	2.43	$	3.07
Diluted EPS
Numerator:
Net (loss) income(1)	$	(201	)	$	216	$	298
Denominator:
Weighted average shares outstanding		85			89		98
Diluted EPS	$	(2.36	)	$	2.42	$	3.05

⁽¹⁾ Net (loss) income for years ended December 31, 2020, 2019, and 2018 was ($200,709,244), $215,695,961, and $298,124,983, 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, 2020, 2019 and 2018, we excluded 2,192,591, 836,677 and 384,860 share-based compensation awards, respectively, because their effect would have been anti-dilutive under the treasury stock method.