Earnings Per Common Share

9 Months Ended

Sep. 30, 2017

Earnings Per Common Share [Abstract]

Basic earnings per common share (EPS) is computed by dividing net income by the weighted-average number of shares of common stock outstanding. For purposes of calculating diluted EPS, the denominator reflects the potential dilution that could occur if stock options, unvested restricted stock, unvested restricted stock units or other contracts to issue common stock were exercised or converted into common stock, using the treasury stock method.

The following table summarizes the calculation of basic and diluted EPS for the three and nine months ended September 30, 2017 and 2016:



	Three months ended				Nine months ended
	September 30,				September 30,
	2017		2016		2017		2016
Net income used for basic and diluted calculation	$	78	$	94	$	413	$	306
Shares used in computing earnings per common share—basic	223		224		224		224
Weighted-average effect of dilutive securities:
Stock awards	2		2		2		2
Shares used in computing earnings per common share—diluted	225		226		226		226
Earnings per common share:
Basic	$	0.35	$	0.42	$	1.84	$	1.37
Diluted	$	0.35	$	0.42	$	1.83	$	1.35

We exclude from EPS the weighted-average number of securities whose effect is anti-dilutive. Excluded from the calculation of EPS for each of the three months ended September 30, 2017 and 2016 were 4 and 5 shares of common stock because their effect was anti-dilutive. Similarly, we excluded from the calculation of EPS for each of the nine months ended September 30, 2017 and 2016 were 4 shares of common stock because their effect was anti-dilutive.