Equity and Earnings Per Share

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Equity

Equity and Earnings Per Share

Common Stock

Dividends

On March 26, 2020, the Company paid a dividend of $0.79 per common share as part of a regular cash dividend program. During the six months ended June 30, 2020, the Company recorded $603 million as a distribution against retained earnings (of which $342 million related to the principal stockholder and his family and the remaining $261 million related to all other stockholders).

In April 2020, the Company suspended the quarterly dividend program due to the impact of the COVID-19 Pandemic.

Noncontrolling Interests

On February 21, 2020, SCL paid a dividend of HKD 0.99 to SCL stockholders (a total of $1.03 billion, of which the Company retained $717 million during the six months ended June 30, 2020).

On April 17, 2020, SCL announced it will not pay a final dividend for 2019 due to the impact of the COVID-19 Pandemic.

Earnings Per Share

Earnings Per Share

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted earnings per share consisted of the following:

	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
	(In millions)
Weighted-average common shares outstanding (used in the calculation of basic earnings per share)	764	772	764	773
Potential dilution from stock options and restricted stock and stock units	—	—	—	1
Weighted-average common and common equivalent shares (used in the calculation of diluted earnings per share)	764	772	764	774
Antidilutive stock options excluded from the calculation of diluted earnings per share	9	2	9	2