Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2019

The following table presents the computation of earnings per share for the three months ended March 31, 2019 and 2018:



	For the three months ended March 31,
(in millions, except share/per share amounts)	2019		2018
Net income	$	594	$	208
Participating securities - mandatory convertible preferred stock	—		3
Net income attributable to common stock	$	594	$	205

Number of common shares:
Weighted average outstanding	539,721,751		571,297,804
Issued upon assumed exercise of outstanding stock options	—		—
Effect of issuance of non-vested restricted common stock	665,435		914,096
Effect of issuance of non-vested performance units	933,301		1,632,559
Weighted average and potential dilutive outstanding	541,320,487		573,844,459

Earnings per common share:
Basic	$	1.10	$	0.36
Diluted	$	1.10	$	0.36

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the common stock shares equivalent excluded from the calculation of diluted earnings per share for the three months ended March 31, 2019 and 2018, as they would have had an antidilutive effect:



	For the three months ended March 31,
	2019	2018
Unexercised stock options	5,128,640	—
Unvested share-based payment	1,881,355	5,292,454
Performance units	260,201	574,944
Mandatory convertible preferred stock	—	9,999,815
Total	7,270,196	15,867,213