Loss per share

3 Months Ended

Mar. 31, 2020

Basic loss per share is computed by dividing net loss for the period by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The dilutive effect of outstanding options and equity incentive awards is reflected in diluted loss per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted loss per share for the three months ended March 31, 2020 and 2019.


	Three Months Ended March 31
(Dollars in millions, except per share amounts)	2020		2019
Numerator:
Basic and diluted:
Net loss attributable to Veoneer	$	(233)	$	(137)

Denominator:
Basic: Weighted average number of shares outstanding (in millions)	111.47		87.24
Diluted: Weighted-average number of shares outstanding, assuming dilution (in millions)¹	111.47		87.24

Basic loss per share	$	(2.09)	$	(1.57)
Diluted loss per share	$	(2.09)	$	(1.57)

¹ Shares in the diluted loss per share calculation represent basic shares due to the net loss.

In periods when the Company has a net loss, equity incentive awards are excluded from the Company's calculation of earnings per share as their inclusion would have an antidilutive effect. The Company excluded equity incentive awards of 443,168 and 321,619 shares for the three months ended March 31, 2020 and 2019, respectively.

The Company may settle the conversions of the Notes in cash, shares of the Company's common stock or any combination thereof at its election. For the Notes, the number of shares of the Company's common stock issuable at the conversion price of $22.3125 per share would be 9,277,305 shares if the Company elected to settle the conversion wholly in shares. See Note 5 "Debt". Due to anti-dilutive effects, the Company excluded potential convertible shares due to the Notes of 9,277,305 for the three months ended March 30, 2020 and zero for the three months ended March 31, 2019 from the diluted loss per share calculations.