Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share (EPS) (in millions, except share and per share amounts):

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020			2019
Basic EPS:
Net income (loss)	$	(2,067	)	$	662	$	(4,308	)	$	847
Weighted average common shares outstanding (in thousands)	428,807			445,008		427,260			448,479
Basic EPS	$	(4.82	)	$	1.49	$	(10.08	)	$	1.89
Diluted EPS:
Net income (loss) for purposes of computing diluted EPS	$	(2,067	)	$	662	$	(4,308	)	$	847
Share computation for diluted EPS (in thousands):
Basic weighted average common shares outstanding	428,807			445,008		427,260			448,479
Dilutive effect of stock awards	—			579		—			1,029
Diluted weighted average common shares outstanding	428,807			445,587		427,260			449,508
Diluted EPS	$	(4.82	)	$	1.49	$	(10.08	)	$	1.88

Securities that could potentially dilute EPS in the future, and which were excluded from the calculation of diluted EPS because inclusion of such shares would be antidilutive, are as follows (in thousands):

Restricted stock unit awards	5,781	3,087	5,357	2,677
PSP Warrants	6,368	—	3,184	—
6.50% convertible senior notes	4,070	—	2,035	—