Basic earnings per share are calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share calculations include any dilutive effect of potential common shares. In periods with a net loss from continuing operations, diluted earnings per share are calculated using weighted-average basic shares for that period, as utilizing diluted shares would be anti-dilutive to loss per share.

A reconciliation of the amounts used to calculate basic and diluted earnings per share for the years ended December 31, 2019 and 2018 follows (in millions):

	Year Ended December 31,
	2019			2018
Loss from continuing operations attributable to Eastman Kodak Company	$	(91	)	$	(9	)
Less: Series A Preferred Stock cash and accrued dividends		(11	)		(11	)
Less: Series A Preferred Stock deemed dividends		(9	)		(9	)
Loss from continuing operations available to common shareholders - basic and diluted	$	(111	)	$	(29	)

Net income (loss) attributable to Eastman Kodak Company	$	116		$	(16	)
Less: Series A Preferred Stock cash and accrued dividends		(11	)		(11	)
Less: Series A Preferred Stock deemed dividends		(9	)		(9	)
Net income (loss) available to common shareholders - basic and diluted	$	96		$	(36	)

As a result of the net loss from continuing operations available to common shareholders for the years ended December 31, 2019 and 2018, Kodak calculated diluted earnings per share using weighted-average basic shares outstanding. If Kodak reported earnings from continuing operations available to common shareholders for the years ended December 31, 2019 and 2018, the calculation of diluted earnings per share would have included the assumed conversion of 0.6 million and 0.3 million unvested restricted stock units.

The computation of diluted earnings per share for the years ended December 31, 2019 and 2018 excluded the impact of (1) the assumed conversion of 2.0 million shares of Series A Preferred Stock, and (2) the assumed conversion of 6.8 million and 5.2 million outstanding employee stock options, respectively, because they would have been anti-dilutive. The computation of diluted earnings per share for the year ended December 31, 2019 also excluded the assumed conversion of $100 million of Convertible Notes because the effects would have been anti-dilutive.