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Earnings Per Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings per Share

Note 5 Earnings Per Share

Basic earnings (loss) per share attributable to U.S. Cellular shareholders is computed by dividing Net income (loss) attributable to U.S. Cellular shareholders by the weighted average number of common shares outstanding during the period.  Diluted earnings (loss) per share attributable to U.S. Cellular shareholders is computed by dividing Net income (loss) attributable to U.S. Cellular shareholders by the weighted average number of common shares outstanding during the period adjusted to include the effects of potentially dilutive securities.  Potentially dilutive securities primarily include incremental shares issuable upon the exercise of outstanding stock options and the vesting of restricted stock units.

The amounts used in computing earnings (loss) per common share and the effects of potentially dilutive securities on the weighted average number of common shares were as follows:

Year Ended December 31,

2016

  

2015

  

2014

(Dollars and shares in millions, except per share amounts)

  

  

  

  

  

Net income (loss) attributable to U.S. Cellular shareholders

$

48 

  

$

241 

  

$

(43)

  

  

  

   

  

  

   

  

  

   

Weighted average number of shares used in basic

  earnings (loss) per share

  

85 

  

  

84 

  

  

84 

Effect of dilutive securities 1

  

– 

  

  

1 

 

 

– 

Weighted average number of shares used in diluted

  earnings (loss) per share

  

85 

  

  

85 

  

  

84 

  

  

  

  

  

  

  

  

  

  

Basic earnings (loss) per share attributable to U.S. Cellular

  shareholders

$

0.56 

  

$

2.86 

  

$

(0.51)

  

  

  

   

  

  

   

  

  

   

Diluted earnings (loss) per share attributable to

  U.S. Cellular shareholders

$

0.56 

  

$

2.84 

  

$

(0.51)

  

  

  

  

  

  

  

  

  

  

1

There were no effects of dilutive securities in 2014 due to the net loss for the year.

 

Certain Common Shares issuable upon the exercise of stock options or vesting of restricted stock units were not included in average diluted shares outstanding for the calculation of Diluted earnings (loss) per share attributable to U.S. Cellular shareholders because their effects were antidilutive.  The number of such Common Shares excluded was 3 million shares, 4 million shares and 4 million shares for 2016, 2015 and 2014 respectively.