(Loss) Earnings Per Share

3 Months Ended

Mar. 31, 2021

Note 16: (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 EPS and diluted EPS for the three months ended March 31, 2021 was 85,307,705. The weighted average shares outstanding used to compute basic EPS and diluted EPS for the three months ended March 31, 2020 was 85,519,151 and 86,044,525, respectively.

	Three Months Ended March 31,
($ and shares outstanding in millions, except per share amounts)	2021			2020
Basic EPS:
Numerator:
Net (loss) income⁽¹⁾	$	(7	)	$	8
Denominator:
Weighted average shares outstanding		85			86
Basic EPS	$	(0.08	)	$	0.09
Diluted EPS:
Numerator:
Net (loss) income⁽¹⁾	$	(7	)	$	8
Denominator:
Weighted average shares outstanding		85			86
Diluted EPS	$	(0.08	)	$	0.09

⁽¹⁾	Net (loss) income for the three months ended March 31, 2021 and 2020 was $(6,771,415) and $7,826,746, 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. Potentially dilutive shares of 943,373 for the three months ended March 31, 2021, were excluded from the calculation of diluted weighted average shares outstanding and diluted earnings per share as a result of our net loss position.

For the three months ended March 31, 2021 and 2020, we excluded 638,050 and 1,754,656 share-based compensation awards, respectively, because their effect would have been anti-dilutive under the treasury stock method.