Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

The following table presents the computation of earnings per share for the three and six months ended June 30, 2019 and 2018:



	For the three months ended June 30,				For the six months ended June 30,
(in millions, except share/per share amounts)	2019		2018		2019		2018
Net income	$	138	$	51	$	732	$	259
Participating securities - mandatory convertible preferred stock	—		—		—		2
Net income attributable to common stock	$	138	$	51	$	732	$	257

Number of common shares:
Weighted average outstanding	539,005,941		581,159,200		539,362,984		576,255,744
Issued upon assumed exercise of outstanding stock options	—		—		—		—
Effect of issuance of non-vested restricted common stock	311,732		480,580		481,948		683,562
Effect of issuance of non-vested performance units	629,380		1,238,326		779,810		1,283,434
Weighted average and potential dilutive outstanding	539,947,053		582,878,106		540,624,742		578,222,740

Earnings per common share
Basic	$	0.26	$	0.09	$	1.36	$	0.45
Diluted	$	0.26	$	0.09	$	1.35	$	0.44

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 and six months ended June 30, 2019 and 2018, as they would have had an antidilutive effect:



	For the three months ended June 30,		For the six months ended June 30,
	2019	2018	2019	2018
Unexercised stock options	5,114,763	—	5,121,663	—
Unvested share-based payment	1,773,074	4,335,715	1,822,346	5,152,847
Performance units	241,896	875,800	250,998	986,585
Mandatory convertible preferred stock	—	—	—	4,972,284
Total	7,129,733	5,211,515	7,195,007	11,111,716