Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Reconciliation of the Earnings and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share

The table below presents the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share:


	Three Months Ended						Six Months Ended
(in millions, except per share amounts)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Computation of Basic Earnings Per Share
Net (loss) income	$	(234)	$	232	$	(203)	$	607
Shares for basic (loss) earnings per share	325.6		333.8		325.5		336.7
Basic (loss) earnings per share	$	(0.72)	$	0.70	$	(0.63)	$	1.80
Computation of Diluted (Loss) Earnings Per Share
Net (loss) income	$	(234)	$	232	$	(203)	$	607
Shares for basic (loss) earnings per share	325.6		333.8		325.5		336.7
Effect of dilutive securities
Share-based compensation ⁽¹⁾	—		2.6		—		2.9
Shares for diluted (loss) earnings per share	325.6		336.4		325.5		339.6
Diluted (loss) earnings per share	$	(0.72)	$	0.69	$	(0.63)	$	1.79

⁽¹⁾ For the calculation of diluted loss per share for the three and six months ended June 30, 2020, we excluded share-based compensation securities of 0.8 million and 1.4 million, respectively, because the effect was anti-dilutive.