Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Basic and diluted net earnings per share

The following is a reconciliation of the shares used in calculating basic and diluted net earnings per share:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Net income (in millions)	$	31	$	139	$	69	$	218
Shares (in thousands):
Weighted average common shares outstanding	179,933		179,964		180,043		179,842
Add: Participating securities (a)	32		35		29		30
Weighted average common shares outstanding — Basic	179,965		179,999		180,072		179,872
Plus incremental shares from assumed conversions: (b)
Dilutive effect of stock options	563		832		644		834
Dilutive effect of restricted stock units and performance share units	79		322		234		427
Weighted average common shares outstanding — Diluted	180,607		181,153		180,950		181,133
Basic earnings per share	$	0.17	$	0.77	$	0.38	$	1.21
Diluted earnings per share	$	0.17	$	0.77	$	0.38	$	1.20

(a)Restricted stock unit awards containing rights to non-forfeitable dividends that participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing earnings per share.

(b)Incremental shares from stock options, restricted stock units and performance share units are computed by the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock units and performance share units, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards. Performance share units will be included in the treasury stock calculation of diluted earnings per share upon achievement of underlying performance or market conditions at the end of the reporting period. See Note 15, "Share-Based Compensation Plans", to the condensed consolidated financial statements for further detail on the performance share units.

	Three Months Ended		Six Months Ended
	June 30,		June 30,
(in thousands)	2020	2019	2020	2019
Stock options	1,766	1,418	1,567	1,406
Restricted stock units	441	382	377	365
Performance share units	313	455	299	463