Basic earnings per share computations are based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share include any dilutive effect of potential common shares. In periods with a net loss from continuing operations available to common shareholders, 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 three and six months ended June 30, 2020 and 2019 follows (in millions):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in millions)	2020			2019			2020			2019
Loss from continuing operations	$	(5	)	$	(6	)	$	(116	)	$	(18	)
Less: Series A convertible preferred stock cash dividend		(3	)		(3	)		(6	)		(6	)
Less: Series A convertible preferred stock deemed dividend		(2	)		(2	)		(4	)		(4	)
Loss from continuing operations available to common shareholders - basic and diluted	$	(10	)	$	(11	)	$	(126	)	$	(28	)

Net (loss) income	$	(5	)	$	201		$	(116	)	$	183
Less: Series A convertible preferred stock cash dividend		(3	)		(3	)		(6	)		(6	)
Less: Series A convertible preferred stock deemed dividend		(2	)		(2	)		(4	)		(4	)
Net (loss) income available to common shareholders - basic and diluted	$	(10	)	$	196		$	(126	)	$	173

As a result of the net loss from continuing operations available to common shareholders for the three and six months ended June 30, 2020 and 2019, 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 three and six months ended June 30, 2020 and 2019, the calculation of diluted earnings per share would have included the assumed conversion of 0.5 million unvested restricted stock units for both periods in 2020 and 0.5 million and 0.4 million unvested restricted stock units for the periods in 2019, respectively.

The computation of diluted earnings per share for the three and six months ended June 30, 2020 and 2019 also excluded the impact of (1) the assumed conversion of 2.0 million shares of Series A Preferred Stock and (2) the assumed conversion of outstanding employee stock options of 7.1 million for both periods in 2020 and 7.2 million for both periods in 2019 because the effects would have been anti-dilutive. In addition, the computation of diluted earnings per share for the three and six months ended June 30, 2020 and the three months ended June 30, 2019 also excluded the assumed conversion of $100 million of Convertible Notes because the effect would have been anti-dilutive.