Basic earnings per share is calculated utilizing net income available for common stockholders divided by the weighted average number of shares of Class A and Class B common stock outstanding for that period.



	Three Months Ended March 31,
	2016		2015

	(in millions, except for shares or per share amounts)
Basic earnings per share
Net income (loss) available for common stockholders	$	33	$	(13)
Weighted average shares of common stock outstanding
Class A		63,985,377		58,473,248
Class B		100		100
		63,985,477		58,473,348
Basic earnings per share	$	0.52	$	(0.22)

Diluted earnings per share are calculated utilizing the Company’s basic net income available for common stockholders divided by diluted weighted average shares outstanding with no adjustments to net income available to common stockholders for potentially dilutive common shares.



	Three Months Ended March 31,
	2016		2015

	(in millions, except for shares or per share amounts)
Diluted earnings per share
Net income (loss) available for common stockholders	$	33	$	(13)
Weighted average shares of common stock outstanding
Class A
Issued and outstanding		63,985,377		58,473,248
Potentially dilutive common shares
Issuable pursuant to employee stock incentive plans		1,270,426		—
Class B		100		100
		65,255,903		58,473,348
Diluted earnings per share	$	0.51	$	(0.22)