Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2020

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):


	Year Ended December 31,
	2020		2019		2018
Basic EPS:
Net income (loss)	$	(8,885)	$	1,686	$	1,412
Weighted average common shares outstanding (in thousands)	483,888		443,363		464,236
Basic EPS	$	(18.36)	$	3.80	$	3.04

Diluted EPS:
Net income (loss) for purposes of computing diluted EPS	$	(8,885)	$	1,686	$	1,412
Share computation for diluted EPS (in thousands):
Basic weighted average common shares outstanding	483,888		443,363		464,236
Dilutive effect of stock awards	—		906		1,424
Diluted weighted average common shares outstanding	483,888		444,269		465,660
Diluted EPS	$	(18.36)	$	3.79	$	3.03

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):


	Year Ended December 31,
	2020	2019	2018
6.50% convertible senior notes	31,882	—	—
Restricted stock unit awards	4,584	2,520	1,266
PSP1 Warrants	349	—	—
Treasury Loan Warrants	107	—	—