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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 8. EARNINGS PER SHARE

Basic and diluted net (loss) income per share are computed by dividing net (loss) income by the weighted-average number of common shares outstanding. Diluted net (loss) income per share reflects the dilutive effect of stock-based compensation.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Computation of Net (Loss) Income per Share
(In millions, except per share data)
Net (loss) income
$
(120.1
)
 
$
(20.0
)
 
$
(200.1
)
 
$
21.7

Basic shares
157.9

 
164.6

 
157.8

 
164.8

Basic net (loss) income per share
$
(0.76
)
 
$
(0.12
)
 
$
(1.27
)
 
$
0.13

Diluted shares:
 
 
 
 
 
 
 
Basic shares
157.9

 
164.6

 
157.8

 
164.8

Stock-based compensation
—

 
—

 
—

 
0.9

Diluted shares
157.9

 
164.6

 
157.8

 
165.7

Diluted net (loss) income per share
$
(0.76
)
 
$
(0.12
)
 
$
(1.27
)
 
$
0.13



The computation of dilutive shares does not include 10.3 million and 8.0 million shares for the three months ended June 30, 2020 and 2019, respectively, and 10.3 million and 5.5 million shares for the six months ended June 30, 2020 and 2019, respectively, as their effect would have been anti-dilutive.