Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

10. Earnings Per Common Share

The calculation of earnings per common share was as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
	(In millions, except share and per share data)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders	$	(1,998)	$	377	$	2,952	$	(360)

Weighted average common shares outstanding — basic	94,698,169		114,931,224		99,728,754		115,863,127
Dilutive effect of share-based awards	—		605,430		140,178		—
Weighted average common shares outstanding — diluted	94,698,169		115,536,654		99,868,932		115,863,127

Earnings per common share:
Basic	$	(21.10)	$	3.28	$	29.60	$	(3.10)
Diluted	$	(21.10)	$	3.27	$	29.56	$	(3.10)

For the six months ended June 30, 2020 and the three months ended June 30, 2019, weighted average shares used for calculating diluted earnings per common share excludes 187,371 and 196,492, respectively, of out-of-the-money stock options, as the inclusion of these shares would be antidilutive to the earnings per common share calculation due to the average share price for the six months ended June 30, 2020 and the three months ended June 30, 2019.

For the three months ended June 30, 2020 and the six months ended June 30, 2019, basic loss per common share equaled diluted loss per common share. The diluted shares were not utilized in the per share calculation for this period as the inclusion of such shares would have an antidilutive effect.