EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 8. EARNINGS PER SHARE

Basic and diluted net income (loss) per share are computed by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted net income (loss) per share reflects the dilutive effect of stock-based compensation.

	Three Months Ended March 31,
	2021		2020
Computation of Net Income (Loss) per Share	(In millions, except per share data)
Net income (loss)	$	243.6	$	(80.0)
Basic shares	158.6		157.8
Basic net income (loss) per share	$	1.54	$	(0.51)
Diluted shares:
Basic shares	158.6		157.8
Stock-based compensation	2.2		—
Diluted shares	160.8		157.8
Diluted net income (loss) per share	$	1.51	$	(0.51)

The computation of dilutive shares does not include 3.2 million and 10.5 million shares for the three months ended March 31, 2021 and 2020, respectively, as their effect would have been anti-dilutive.