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Net Income Per Common Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Net Income Per Common Share Net Income (Loss) Per Common Share
Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share are computed based on the weighted average number of common and dilutive potential common shares outstanding using the treasury stock method. The table shows calculations for basic and diluted earnings per share:
(In millions, except per share data)
 
Three months ended March 31,
 
2020
 
2019
Numerator:
 
 

 
 

Net income (loss)—basic and diluted
 
$
(1,226
)
 
$
695

Denominator:
 
 

 
 

Basic weighted-average common shares outstanding
 
162.2

 
163.0

Effect of share-based awards:
 
 

 
 

Stock options
 
—

 
0.9

Nonvested shares
 
—

 
0.7

Diluted weighted-average shares
 
162.2

 
164.6

Earnings (loss) per share:
 
 

 
 

Basic
 
$
(7.56
)
 
$
4.27

Diluted
 
$
(7.56
)
 
$
4.22

Number of anti-dilutive share-based awards
 
2.5

 
0.7

 
 
 
 
 


In accordance with ASC 260, Earnings per Share, the assumed exercise of share-based awards in 2020 were excluded from the computation of diluted loss per share. See our 2019 Annual Report on Form 10-K, Item 8, Note 17, Share-Based Associate Compensation Plans, Page 176, for information about share-based awards. The above table shows the number of anti-dilutive share-based awards for the three months ended March 31, 2020 and 2019. These share-based awards were not included in the computation of net income (loss) per common share (diluted) because their exercise would have anti-dilutive effects.