Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2020

The Company computes basic earnings (loss) per share by dividing income available to common shareholders by the weighted average number of common shares outstanding. The computation of diluted earnings (loss) per share is similar to the computation of basic earnings (loss) per share, except that the Company adjusts the weighted average number of shares outstanding to include estimates of additional shares that would be issued if potentially dilutive common shares had been issued. In addition, the Company adjusts income (loss) available to common shareholders to include any changes in income or loss that would result from the assumed issuance of the dilutive common shares.

Earnings (loss) per share of common stock outstanding were computed as follows:


	Year Ended December 31
	2020		2019		2018

Net income (loss) attributable to Tenneco Inc.	$	(1,521)	$	(334)	$	55
Basic earnings (loss) per share —
Average shares of common stock outstanding	81,378,474		80,904,060		58,625,087
Earnings (loss) per average share of common stock	$	(18.69)	$	(4.12)	$	0.93
Diluted earnings (loss) per share —
Average shares of common stock outstanding	81,378,474		80,904,060		58,625,087
Effect of dilutive securities:
Restricted stock, RSUs and PSUs	—		—		93,546
Stock options	—		—		40,099
Average shares of common stock outstanding including dilutive securities	81,378,474		80,904,060		58,758,732
Earnings (loss) per average share of common stock	$	(18.69)	$	(4.12)	$	0.93

For the years ended December 31, 2020, 2019, and 2018, the weighted average number of anti-dilutive potential common shares excluded from the calculation above totaled 2,346,904 shares, 1,868,274 shares, and 257,567 shares.