Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share

Calculation of basic and diluted EPS

The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2017 and 2016 (in millions, except per-share amounts):

	Three months ended						Nine months ended
	September 30						September 30
	2017			2016			2017			2016
Basic EPS
Income (loss) from continuing operations	$	190		$	(238	)	$	814		$	(734	)
Discontinued operations, net	—			(3		)	—			432
Net income (loss)	190			(241		)	814			(302		)
Less: Net income allocated to participating securities	(1		)	—			(4		)	—
Net income (loss), net of participating securities	189			(241		)	810			(302		)
Weighted average number of basic shares	765.5			764.0			764.9			763.7
Basic EPS	$	0.25		$	(0.32	)	$	1.06		$	(0.40	)
Diluted EPS
Net income (loss), net of participating securities	$	189		$	(241	)	$	810		$	(302	)
Weighted average number of basic shares	765.5			764.0			764.9			763.7
Dilutive effect of potentially dilutive securities	0.9			—			0.8			—
Total diluted weighted average common shares	766.4			764.0			765.7			763.7
Diluted EPS	$	0.25		$	(0.32	)	$	1.06		$	(0.40	)