Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

The following table presents the computation of earnings per share for the three and nine months ended September 30, 2020 and 2019:


	For the three months ended September 30,				For the nine months ended September 30,
(in millions, except share/per share amounts)	2020		2019		2020		2019
Net income (loss)	$	(593)	$	49	$	(3,020)	$	781

Number of common shares:
Weighted average outstanding	571,872,413		539,221,101		551,162,559		539,315,170
Issued upon assumed exercise of outstanding stock options	—		—		—		—
Effect of issuance of non-vested restricted common stock	—		187,706		—		400,120
Effect of issuance of non-vested restricted units	—		—		—		—
Effect of issuance of non-vested performance units	—		629,380		—		727,359
Weighted average and potential dilutive outstanding	571,872,413		540,038,187		551,162,559		540,442,649

Earnings per common share
Basic	$	(1.04)	$	0.09	$	(5.48)	$	1.45
Diluted	$	(1.04)	$	0.09	$	(5.48)	$	1.44

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 nine months ended September 30, 2020 and 2019, as they would have had an antidilutive effect:


	For the three months ended September 30,		For the nine months ended September 30,
	2020	2019	2020	2019
Unexercised stock options	4,425,886	5,102,882	4,519,385	5,115,334
Unvested share-based payment	939,941	2,136,453	946,547	1,797,963
Restricted stock units	1,935,781	—	2,001,621	—
Performance units	2,282,211	240,450	2,027,985	247,443
Total	9,583,819	7,479,785	9,495,538	7,160,740