Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following table presents a summary of cash and cash equivalents as of December 31, 2019, and December 31, 2018:


(in millions)	December 31, 2019		December 31, 2018
Cash	$	5	$	32
Marketable securities ⁽¹⁾	—		169
Total	$	5	$	201

(1)Consists of government stable value money market funds.

Schedule of Earnings Per Share

The following table presents the computation of earnings per share for the years ended December 31, 2019, 2018 and 2017:


	For the years ended December 31,
(in millions, except share/per share amounts)	2019		2018		2017
Net income	$	891	$	537	$	1,046
Mandatory convertible preferred stock dividend	—		—		108
Participating securities – mandatory convertible preferred stock	—		2		123
Net income attributable to common stock	$	891	$	535	$	815

Number of common shares:
Weighted average outstanding	539,345,343		574,631,756		498,264,321
Issued upon assumed exercise of outstanding stock options	—		—		—
Effect of issuance of non-vested restricted common stock	361,380		698,103		1,061,056
Effect of issuance of non-vested performance units	676,191		1,312,949		1,478,920
Weighted average and potential dilutive outstanding	540,382,914		576,642,808		500,804,297

Earnings per common share:
Basic	$	1.65	$	0.93	$	1.64
Diluted	$	1.65	$	0.93	$	1.63

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 years ended December 31, 2019, 2018 and 2017, as they would have had an antidilutive effect:


	For the years ended December 31,
	2019	2018	2017
Unexercised stock options	5,078,253	5,909,082	116,717
Unvested share-based payment	1,728,264	3,692,794	5,361,849
Performance units	271,268	642,568	765,689
Mandatory convertible preferred stock	—	2,465,708	74,999,895
Total	7,077,785	12,710,152	81,244,150

Schedule of Supplemental Disclosures of Cash Flow Information

The following table provides additional information concerning interest and income taxes paid as well as changes in noncash investing activities for the years ended December 31, 2019, 2018 and 2017:


	For the years ended December 31,
(in millions)	2019		2018		2017
Cash paid during the year for interest, net of amounts capitalized	$	58	$	135	$	130
Cash paid (received) during the year for income taxes	(52)		6		(5)
Increase (decrease) in noncash property additions	41		(42)		25