Earnings Per Share

6 Months Ended

Jun. 30, 2020

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (shares in millions):


		Three Months Ended June 30,												Six Months Ended June 30,
		2020				2019				2020				2019
Net income (loss) for basic and diluted EPS				$	(481)			$	62			$	(639)			$	(29)

Basic weighted average shares outstanding				69.6				76.0				71.3				75.9
Options and non-vested stock^(a)				—				0.4				—				—
Diluted weighted average shares outstanding				69.6				76.4				71.3				75.9

Earnings (Loss) per share:
	Basic	$	(6.91)			$	0.81			$	(8.96)			$	(0.39)
	Diluted	$	(6.91)			$	0.81			$	(8.96)			$	(0.39)

__________

^(a)For the three and six months ended June 30, 2020, 1.3 million, respectively non-vested stock awards, have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding. For the three months ended June 30, 2019, 0.5 million non-vested stock awards at June 30, 2019, have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding. As the Company incurred a net loss for the six months ended June 30, 2019, 1.2 million non-vested stock awards at June 30, 2019 have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding.