EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2021

The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings (loss) per-share (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net earnings (loss) attributable to Owens Corning	$	298	$	96	$	508	$	(821)
Weighted-average number of shares outstanding used for basic earnings (loss) per share	104.6		108.6		105.0		108.7
Non-vested restricted and performance shares	0.8		0.2		0.8		—
Options to purchase common stock	0.1		0.1		0.1		—
Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings (loss) per share	105.5		108.9		105.9		108.7
Earnings (loss) per common share attributable to Owens Corning common stockholders:
Basic	$	2.85	$	0.88	$	4.84	$	(7.55)
Diluted	$	2.82	$	0.88	$	4.80	$	(7.55)

For the three and six months ended June 30, 2021, there were no non-vested restricted or performance shares that had an anti-dilutive effect on earnings per share. For the three months ended June 30, 2020, the number of shares used in the calculation of diluted earnings per share did not include 0.1 million non-vested performance shares, due to their anti-dilutive effect. For the six months ended June 30, 2020, diluted earnings per share was equal to basic earnings per share due to the net loss attributable to Owens Corning.

On December 3, 2020, the Board of Directors approved a share buy-back program under which the Company is authorized to repurchase up to 10 million shares of the Company’s outstanding common stock (the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and is at the Company’s discretion. The Company repurchased 2.9 million shares of its common stock for $262 million during the six months ended June 30, 2021, under the Repurchase Authorization. As of June 30, 2021, 6.6 million shares remain available for repurchase under the Repurchase Authorization.