Earnings Per Share

9 Months Ended

Sep. 30, 2021

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				Nine Months Ended
(in millions, except per share amounts)	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Computation of Basic Earnings Per Share
Net income (loss)	$	220	$	100	$	631	$	(103)
Shares for basic earnings per share	327.3		325.9		327.0		325.7
Basic earnings (loss) per share	$	0.67	$	0.31	$	1.93	$	(0.32)
Computation of Diluted Earnings Per Share
Net income (loss)	$	220	$	100	$	631	$	(103)
Shares for basic earnings per share	327.3		325.9		327.0		325.7
Effect of dilutive securities
Stock-based compensation (1)	2.0		0.9		2.1		—
Shares for diluted earnings per share	329.3		326.8		329.1		325.7
Diluted earnings (loss) per share	$	0.67	$	0.31	$	1.92	$	(0.32)

(1) For the calculation of diluted loss per share for the nine months ended September 30, 2020, we excluded stock-based compensation securities of 1.2 million because the effect was anti-dilutive.