Earnings (Losses) Per Share

12 Months Ended

Dec. 31, 2019

Note 5. Earnings (Losses) Per Share

Basic earnings (losses) per share excludes dilution and is computed by dividing net (loss) income attributable to Venator ordinary shareholders by the weighted average number of shares outstanding during the period. Diluted earnings (losses) per share reflects all potential dilutive ordinary shares outstanding during the period and is computed by dividing net income (loss) available to Venator ordinary shareholders by the weighted average number of shares outstanding during the period increased by the number of additional shares that would have been outstanding as dilutive securities. For the periods prior to our IPO, the average number of ordinary shares outstanding used to calculate basic and diluted earnings (losses) per share was based on the ordinary shares that were outstanding at the time of our IPO.

Basic and diluted earnings (losses) per share is determined using the following information:


	For the years ended December 31,
	2019		2018		2017
Numerator:
Basic and diluted (loss) income from continuing operations:
(Loss) income from continuing operations attributable to Venator Materials PLC ordinary shareholders	$	(175)	$	(163)	$	126
Basic and diluted income from discontinued operations:
Income from discontinued operations attributable to Venator Materials PLC ordinary shareholders	$	—	$	—	$	8
Basic and diluted net (loss) income:
Net (loss) income attributable to Venator Materials PLC ordinary shareholders	$	(175)	$	(163)	$	134
Denominator:
Weighted average shares outstanding	106.5		106.4		106.3
Dilutive share-based awards	—		0.3		0.4
Total weighted average shares outstanding, including dilutive shares	106.5		106.7		106.7

The number of anti-dilutive employee share-based awards excluded from the computation of diluted EPS was 2 million for the year ended December 31, 2019, 1 million for the year ended December 31, 2018 and not significant for the year ended December 31, 2017.