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Earnings Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
NOTE 14. Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing net income attributable to Visteon by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted average number of common and potential dilutive common shares outstanding. Performance based share units are considered contingently issuable shares, and are included in the computation of diluted earnings per share based on the number of shares that would be issuable if the reporting date were the end of the contingency period and if the result would be dilutive.

The table below provides details underlying the calculations of basic and diluted earnings (loss) per share:
 
Three Months Ended
September 30
 
Nine Months Ended
September 30
 
2015
 
2014
 
2015
 
2014
 
(In Millions, Except Per Share Amounts)
Numerator:
 
 
 
 
 
 
 
Net income (loss) from continuing operations attributable to Visteon
$
16

 
$
(26
)
 
$
93

 
$
(75
)
(Loss) income from discontinued operations, net of tax
(11
)
 
5

 
2,170

 
(82
)
Net income (loss) attributable to Visteon
$
5

 
$
(21
)
 
$
2,263

 
$
(157
)
Denominator:
 
 
 
 
 
 
 
Average common stock outstanding - basic
40.5

 
44.0

 
42.9

 
46.2

Dilutive effect of warrants and PSUs
0.9

 
—

 
1.0

 
—

Diluted shares
41.4

 
44.0

 
43.9

 
46.2

 
 
 
 
 
 
 
 
Basic and Diluted Per Share Data:
 
 
 
 
 
 
 
Basic earnings (loss) per share attributable to Visteon:
 
 
 
 
 
 
 
Continuing operations
$
0.39

 
$
(0.59
)
 
$
2.17

 
$
(1.62
)
Discontinued operations
(0.27
)
 
0.11

 
50.58

 
(1.78
)
 
$
0.12

 
$
(0.48
)
 
$
52.75

 
$
(3.40
)
Diluted earnings (loss) per share attributable to Visteon:
 
 
 
 
 
 
 
Continuing operations
$
0.38

 
$
(0.59
)
 
$
2.12

 
$
(1.62
)
Discontinued operations
(0.26
)
 
0.11

 
49.43

 
(1.78
)
 
$
0.12

 
$
(0.48
)
 
$
51.55

 
$
(3.40
)


The impact of dilutive potential common stock is not taken into consideration in loss periods as the impact would be anti-dilutive. Accordingly, dilutive potential common stocks have been excluded from the computation of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2014, as applicable.
 
September 30, 2014
 
Three Months Ended
 
Nine Months Ended
 
(In Millions, Except Per Share Amounts)
Number of warrants
1.5
 
1.5
    Exercise price
$58.80
 
$58.80
Number of performance stock units
1.0
 
1.0
Number of stock options
0.1
 
0.1
    Exercise price
$
53.48

-
$
84.67

 
$
53.48

-
$
84.67