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Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share

Earnings (loss) per share is computed using the two-class method. For periods in which the Company reports net income, diluted earnings per share is determined by using the weighted average number of common and dilutive common equivalent shares outstanding during the period, unless the effect is antidilutive. Stock appreciation rights and options to purchase 23.3 million and 19.3 million shares of common stock were outstanding, but were excluded from the calculation of diluted earnings per share, for the three and six months ended June 30, 2019, respectively, because their exercise prices were greater than the average market price of the common shares and, therefore, the effect would be antidilutive. For the same reason, options to purchase 15.3 million and 14.3 million shares of common stock were outstanding, but were excluded from the calculation of diluted earnings per share, for the three and six months ended June 30, 2018, respectively. Due to the loss from continuing operations attributable to CVS Health in the three and six months ended June 30, 2018, 1.9 million and 2.3 million, respectively, of potentially dilutive common equivalent shares were also excluded from the calculation of diluted earnings per share, as the impact of these shares was antidilutive.

The following is a reconciliation of basic and diluted earnings (loss) per share from continuing operations for the respective periods:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
In millions, except per share amounts
2019
 
2018
 
2019
 
2018
Numerator for earnings (loss) per share calculation:
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
1,931

 
$
(2,562
)
 
$
3,358

 
$
(1,564
)
Income from continuing operations allocated to participating securities
(1
)
 
(1
)
 
(3
)
 
(3
)
(Income) loss from continuing operations attributable to noncontrolling interest
5

 
—

 
(1
)
 
—

Income (loss) from continuing operations attributable to CVS Health
$
1,935

 
$
(2,563
)
 
$
3,354

 
$
(1,567
)
 
 
 
 
 
 
 
 
Denominator for earnings (loss) per share calculation:
 
 
 
 
 
 
 
Weighted average shares, basic
1,301

 
1,018

 
1,299

 
1,017

Effect of dilutive securities
1

 
—

 
3

 
—

Weighted average shares, diluted
1,302

 
1,018

 
1,302

 
1,017

 
 
 
 
 
 
 
 
Earnings (loss) per share from continuing operations:
 
 
 
 
 
 
 
Basic
$
1.49

 
$
(2.52
)
 
$
2.58

 
$
(1.54
)
Diluted
$
1.49

 
$
(2.52
)
 
$
2.58

 
$
(1.54
)