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Earnings per Share
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share

Basic earnings per share for all periods presented equals net income (loss) divided by the weighted average number of our shares outstanding during the period including participating securities. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of our shares outstanding during the period including participating securities and potentially dilutive shares. The following table presents our basic and diluted weighted average shares outstanding for the third quarter and the first nine months of 2019 and 2018:
 
Three Months Ended September 30,
Nine Months Ended September 30,
(Shares in millions)
2019
 
2018
2019
 
2018
Basic and Diluted weighted average shares outstanding
1,004

 
998

1,004

 
996



Our basic and diluted weighted average shares outstanding for the periods presented are equivalent due to the net loss attributable to shareholders. Diluted weighted average shares outstanding for the third quarter and the first nine months of 2019 and 2018 exclude potential shares for stock options, restricted shares, performance units, exchangeable notes, warrant outstanding and the Employee Stock Purchase Plan as we have net losses for those periods and their inclusion would be anti-dilutive. The following table discloses the number of anti-dilutive shares excluded for the third quarter and the first nine months of 2019 and 2018:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Shares in millions)
2019
 
2018
 
2019
 
2018
Anti-dilutive potential shares due to net loss
163

 
251

 
208

 
251


Upon emergence from bankruptcy, our existing ordinary shares will be cancelled and exchanged for 1% of the New Common Stock and four-year warrants to purchase 10% of the New Common Stock in accordance with the RSA, both subject to dilution on account of the equity issued pursuant to the management incentive plan. See “Note 2 – Chapter 11 Proceedings and Ability to Continue as a Going Concern” for additional details.