Net Loss Per Share

6 Months Ended

Jun. 30, 2020

(14) Net Loss Per Share:

The reconciliation of the net loss per share calculation is as follows:



	For the three months ended				For the six months ended
	June 30,				June 30,

($ in millions and shares in thousands, except per share amounts)	2020		2019		2020		2019

Net loss used for basic and diluted loss
per share:
Total basic net loss
attributable to Frontier common shareholders	$	(181)	$	(5,317)	$	(367)	$	(5,404)
Effect of loss related to dilutive stock units		-		-		-		-
Total diluted net loss
attributable to Frontier common shareholders	$	(181)	$	(5,317)	$	(367)	$	(5,404)

Basic loss per share:
Total weighted average shares and unvested restricted stock
awards outstanding - basic		104,988		105,314		105,029		105,377
Less: Weighted average unvested restricted stock awards		(463)		(1,196)		(592)		(1,390)
Total weighted average shares outstanding - basic		104,525		104,118		104,437		103,987

Basic net loss per share
attributable to Frontier common shareholders	$	(1.73)	$	(51.07)	$	(3.51)	$	(51.97)

Diluted loss per share:
Total weighted average shares outstanding - basic		104,525		104,118		104,437		103,987
Effect of dilutive stock units		-		-		-		-
Total weighted average shares outstanding - diluted		104,525		104,118		104,437		103,987

Diluted net loss per share
attributable to Frontier common shareholders	$	(1.73)	$	(51.07)	$	(3.51)	$	(51.97)

In calculating diluted net loss per common share for the three and six months ended June 30, 2020 and 2019, the effect of all common stock equivalents is excluded from the computation as the effect would be antidilutive.

Stock Options

For the three and six months ended June 30, 2020 and 2019, previously granted options to purchase 1,344 shares issuable under employee compensation plans were excluded from the computation of diluted earnings (loss) per share (EPS) for those periods because the exercise prices were greater than the average market price of our common stock and, therefore, the effect would be antidilutive.

Stock Units

At each of June 30, 2020 and June 30, 2019, we had 339,544 stock units issued under the Non-Employee Directors’ Deferred Fee Equity Plan (Deferred Fee Plan), the Non-Employee Directors’ Equity Incentive Plan (Directors’ Equity Plan), the 2013 Equity Incentive Plan and the 2017 Equity Incentive Plan. These securities have not been included in the diluted EPS calculation for the six months ended June 30, 2020 and 2019 because their inclusion would have an antidilutive effect. Compensation costs associated with the issuance of stock units were $0 million for each of the six months ended June 30, 2020 and 2019, respectively.