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Earnings Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share (“EPS”) is computed by dividing the applicable income amounts by the weighted-average number of shares of common stock outstanding. Diluted EPS is computed by dividing the applicable income amounts by the sum of weighted-average number of shares of common stock outstanding and dilutive potential common stock.
For a period in which Caesars generated a net loss, the weighted-average basic shares outstanding was used in calculating diluted loss per share because using diluted shares would have been anti-dilutive to loss per share.
Basic and Dilutive Net Earnings Per Share Reconciliation
 
Three Months Ended March 31,
(In millions, except per share data)
2020
 
2019
Net income/(loss) attributable to Caesars
$
189

 
$
(217
)
Dilutive effect of CEC Convertible Notes, net of tax
(492
)
 
—

Adjusted net loss attributable to Caesars
$
(303
)
 
$
(217
)
 
 
 
 
Weighted-average common shares outstanding - basic
682

 
670

Dilutive potential common shares: Stock-based compensation awards
4

 
—

Dilutive potential common shares: CEC Convertible Notes
151

 
—

Weighted-average common shares outstanding - diluted
837

 
670

 
 
 
 
Basic earnings/(loss) per share
$
0.28

 
$
(0.32
)
Diluted loss per share
$
(0.36
)
 
$
(0.32
)

Weighted-Average Number of Anti-Dilutive Shares Excluded from Calculation of EPS
 
Three Months Ended March 31,
(In millions)
2020
 
2019
Stock-based compensation awards
—

 
23

CEC Convertible Notes
—

 
151

Total anti-dilutive common stock
—

 
174