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.
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