Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

	For the three months ended September 30,				For the nine months ended September 30,
(in millions, except share/per share amounts)	2018		2017		2018		2017
Net income (loss)	$	(29)	$	77	$	230	$	712
Mandatory convertible preferred stock dividend		–		27		–		81
Participating securities - mandatory convertible preferred stock		−		7		1		83
Net income (loss) attributable to common stock	$	(29)	$	43	$	229	$	548
Number of common shares:
Weighted average outstanding		581,171,753		499,812,926		577,912,421		496,458,435
Issued upon assumed exercise of outstanding stock options		–		–		–		–
Effect of issuance of non-vested restricted common stock		–		1,202,585		640,365		883,512
Effect of issuance of non-vested performance units		–		1,275,268		1,276,072		1,185,724
Weighted average and potential dilutive outstanding		581,171,753		502,290,779		579,828,858		498,527,671
Earnings (loss) per common share:
Basic	$	(0.05)	$	0.09	$	0.40	$	1.11
Diluted	$	(0.05)	$	0.09	$	0.39	$	1.10

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

	For the three months ended		For the nine months ended
	September 30,		September 30,
	2018	2017	2018	2017
Unexercised stock options	717	180,932	–	60,973
Unvested share-based payment	3,463,802	5,703,086	4,246,492	5,356,166
Performance units	2,000,553	1,036,422	856,703	1,036,422
Mandatory convertible preferred stock	–	74,999,895	3,296,642	74,999,895
Total	5,465,072	81,920,335	8,399,837	81,453,456