Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2021

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, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Computation of Basic Earnings Per Share
Net income (loss)	$	422	$	(234)	$	411	$	(203)
Shares for basic earnings per share	327.1		325.6		326.9		325.5
Basic earnings (loss) per share	$	1.29	$	(0.72)	$	1.26	$	(0.63)
Computation of Diluted Earnings Per Share
Net income (loss)	$	422	$	(234)	$	411	$	(203)
Shares for basic earnings per share	327.1		325.6		326.9		325.5
Effect of dilutive securities
Stock-based compensation (1)	2.0		—		2.1		—
Shares for diluted earnings per share	329.1		325.6		329.0		325.5
Diluted earnings (loss) per share	$	1.28	$	(0.72)	$	1.25	$	(0.63)

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