Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Computation of Basic and Diluted Earnings Per Share

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


		Year Ended December 31,
		2020		2019		2018
Net income (loss) for basic and diluted EPS		$	(684)	$	302	$	165

Basic weighted average shares outstanding		70.5		75.2		79.3
Options and non-vested stock		—		0.5		0.8
Diluted weighted average shares outstanding		70.5		75.7		80.1

Earnings per share:
	Basic	$	(9.71)	$	4.01	$	2.08
	Diluted	$	(9.71)	$	3.98	$	2.06

Outstanding Common Stock Equivalents That Were Anti-Dilutive

The following table summarizes the Company’s outstanding common stock equivalents that were anti-dilutive and therefore excluded from the computation of diluted EPS (shares in millions):


	As of December 31,
	2020	2019	2018
Non-vested stock (a)	1.2	0.5	0.2

__________

(a)The weighted average grant date fair value for anti-dilutive non-vested stock for 2020, 2019 and 2018 was $26.20, $39.48 and $48.66, respectively.