Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2016

Earnings Per Share

Basic earnings per share is computed by dividing the applicable income amounts by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing the applicable income amounts by the sum of weighted-average number of shares of common shares outstanding and dilutive potential common shares.

For periods in which Caesars generated net losses, the weighted-average basic shares outstanding was used in calculating diluted loss per share because including diluted shares would be anti-dilutive to loss per share.

Basic and Dilutive Net Earnings Per Share Reconciliation

	Years Ended December 31,
(In millions, except per share data)	2016			2015		2014
Income/(loss) from continuing operations attributable to Caesars, net of income taxes	$	(6,949	)	$	5,765	$	(2,640	)
Income/(loss) from discontinued operations attributable to Caesars, net of income taxes	3,380			155		(143		)
Net income/(loss) attributable to Caesars	$	(3,569	)	$	5,920	$	(2,783	)

Weighted average common share outstanding	146			145		142
Dilutive potential common shares: Stock options	—			2		—
Weighted average common shares and dilutive potential common shares	146			147		142

Basic earnings/(loss) per share from continuing operations	$	(47.52	)	$	39.80	$	(18.53	)
Basic earnings/(loss) per share from discontinued operations	23.11			1.08		(1.00		)
Basic earnings/(loss) per share	$	(24.41	)	$	40.88	$	(19.53	)

Diluted earnings/(loss) per share from continuing operations	$	(47.52	)	$	39.20	$	(18.53	)
Diluted earnings/(loss) per share from discontinued operations	23.11			1.06		(1.00		)
Diluted earnings/(loss) per share	$	(24.41	)	$	40.26	$	(19.53	)

Weighted-Average Number of Anti-Dilutive Shares Excluded from Calculation of EPS

	Years Ended December 31,
(In millions)	2016	2015	2014
Stock options	10	4	6
Restricted stock units and awards	9	1	2
Total anti-dilutive common shares	19	5	8