Net Loss Per Common Share

12 Months Ended

Dec. 31, 2020

Net Loss Per Common Share [Abstract]

Net Loss Per Common Share

(16) Net Loss Per Common Share:

The reconciliation of the net loss per common share calculation for the years ended December 31, 2020, 2019 and 2018 is as follows:

($ in millions and shares in thousands, except per share amounts)	2020		2019		2018
Net loss used for basic and diluted earnings (loss)
per share:
Net loss attributable to Frontier common shareholders	$	(402)	$	(5,911)	$	(750)
Less: Dividends paid on unvested restricted stock awards		-		-		-
Total basic net loss attributable to Frontier
common shareholders	$	(402)	$	(5,911)	$	(750)
Effect of loss related to dilutive stock units		-		-		-
Total diluted net loss attributable to Frontier
common shareholders	$	(402)	$	(5,911)	$	(750)
Basic earnings (loss) per share:
Total weighted average shares and unvested restricted stock
awards outstanding - basic		104,944		105,356		91,523
Less: Weighted average unvested restricted stock awards		(477)		(1,291)		(1,840)
Total weighted average shares outstanding - basic		104,467		104,065		89,683
Basic net loss per share attributable to Frontier
common shareholders	$	(3.85)	$	(56.80)	$	(8.37)
Diluted earnings (loss) per share:
Total weighted average shares outstanding - basic		104,467		104,065		89,683
Effect of dilutive shares		-		-		-
Total weighted average shares outstanding - diluted		104,467		104,065		89,683
Diluted net loss per share attributable to Frontier
common shareholders	$	(3.85)	$	(56.80)	$	(8.37)

In calculating diluted net loss per common share for the years ended December 31, 2020, 2019 and 2018 the effect of all common stock equivalents is excluded from the computation as the effect would be antidilutive.

Stock Options

For the year ended December 31, 2020, there were no outstanding stock options. For each of the years ended December 31, 2019 and 2018, options to purchase 1,334 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 December 31, 2020, 2019 and 2018, we had 339,544, 339,544 and 348,093 stock units, respectively, issued under the Director Plans and the 2013 EIP. These securities have not been included in the diluted income per share of common stock calculation because their inclusion would have an antidilutive effect.