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Note 8 - Earnings Per Share
9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 8. Earnings per Share

 

Reconciliation of the numerators and denominators of the earnings per share calculations — 

 

   

Three Months Ended

   

Nine Months Ended

 
   

September 30,

   

September 30,

 
   

2020

   

2019

   

2020

   

2019

 

Net income (loss) available to common stockholders - Numerator basic and diluted

  $ 45     $ 111     $ (71 )   $ 141  
                                 

Denominator:

                               
Weighted-average common shares outstanding - Basic     144.5       144.0       144.4       144.0  
Employee compensation-related shares, including stock options     0.7       0.8             0.8  

Weighted-average common shares outstanding - Diluted

    145.2       144.8       144.4       144.8  

 

The share count for diluted earnings per share is computed on the basis of the weighted-average number of common shares outstanding plus the effects of dilutive common stock equivalents (CSEs) outstanding during the period. We excluded 1.6 million and 0.6 million CSEs from the calculation of diluted earnings per share for the third quarters of 2020 and 2019 and excluded 1.3 million and 0.2 million of CSEs for the respective year-to-date periods as the effect of including them would have been anti-dilutive. In addition, we excluded CSEs that satisfied the definition of potentially dilutive shares of 0.5 million for the year-to-date 2020 period since there was no net income available to common stockholders for these periods.