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Earnings and Dividends Per Common Share (Notes)
9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings and Dividends Per Common Share
Earnings and Dividends Per Common Share
Earnings (Loss) Per Share Attributable to United States Steel Corporation Stockholders
Basic earnings (loss) per common share is based on the weighted average number of common shares outstanding during the period.
Diluted earnings (loss) per common share assumes the exercise of stock options, the vesting of restricted stock units and performance awards and the conversion of convertible notes, provided in each case the effect is dilutive. The “treasury stock” method was used to calculate the dilutive effect of the Senior Convertible Notes due in 2019 (2019 Senior Convertible Notes) while they were outstanding due to our intent and policy at the time of issuance to settle the principal amount of the 2019 Senior Convertible Notes in cash if they were converted (as described in Note 16 to the Annual Report on Form 10-K, the 2019 Senior Convertible Notes were redeemed in the fourth quarter of 2015).
The computations for basic and diluted earnings (loss) per common share from continuing operations are as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in millions, except per share amounts)
 
2016
 
2015
 
2016
 
2015
Earnings (loss) attributable to United States Steel Corporation stockholders
 
$
51

 
$
(173
)
 
$
(335
)
 
$
(509
)
Weighted-average shares outstanding (in thousands):
 

 

 

 

Basic
 
160,513

 
146,324

 
151,199

 
146,008

Effect of stock options, restricted stock units and performance awards
 
1,187

 

 

 

Adjusted weighted-average shares outstanding, diluted
 
161,700

 
146,324

 
151,199

 
146,008

Basic earnings (loss) per common share
 
$
0.32

 
$
(1.18
)
 
$
(2.22
)
 
$
(3.49
)
Diluted earnings (loss) per common share
 
$
0.32

 
$
(1.18
)
 
$
(2.22
)
 
$
(3.49
)

The following table summarizes the securities that were antidilutive, and therefore, were not included in the computations of diluted earnings (loss) per common share:
 
 
Three Months Ended September 30,
 
Nine Months Ended 
 September 30,
(In thousands)
 
2016
 
2015
 
2016
 
2015
Securities granted under the 2005 Stock Incentive Plan, as amended and the Omnibus Plan
 
4,613

 
8,623
 
9,568

 
8,623


Dividends Paid Per Share
The dividend for each of the first three quarters of 2016 and 2015 was five cents per common share.