Income (Loss) per Share

6 Months Ended

Jun. 30, 2020

Income per Share

Basic income per share is based on the weighted average number of common shares outstanding during the period. Diluted income per share includes additional common shares that would have been outstanding if potential common shares with a dilutive effect had been issued. Antidilutive shares represent potential common shares which are excluded from the computation of diluted income per share as their impact would be antidilutive.

A reconciliation of the number of shares used for the basic and diluted income per share computations is as follows:


	Three Months Ended June 30			Six Months Ended June 30
Millions of shares	2020	2019	2020	2019
Basic weighted average common shares outstanding	877	874	877	874
Dilutive effect of awards granted under our stock incentive plans	—	1	—	—
Diluted weighted average common shares outstanding	877	875	877	874

Antidilutive shares:
Options with exercise price greater than the average market price	27	23	27	20
Shares which are antidilutive due to net loss position	1	—	2	—
Total antidilutive shares	28	23	29	20