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Net Income (Loss) per Share (Tables)
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Summary of denominators for the computation of basic and diluted net income (loss) per share
The following table sets forth the calculation of basic and diluted net income (loss) per share:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
 
(In millions, except net income per share)
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
202

 
$
(230
)
 
$
309

 
$
(153
)
Denominator:
 
 
 
 
 
 
 
Shares outstanding at the beginning of the period
61

 
56

 
59

 
56

Weighted-average number of shares issued:
 
 
 
 
 
 
 
1.625% Exchange (1)
—

 
—

 
2

 
—

Denominator for basic net income per share
61

 
56

 
61

 
56

Effect of dilutive securities:
 
 
 
 
 
 
 
1.625% Convertible Notes (1)
1

 
—

 
—

 
—

1.125% Warrants (1)
5

 
—

 
5

 
—

Denominator for diluted net income per share
67

 
56

 
66

 
56

 
 
 
 
 
 
 
 
Net income (loss) per share: (2)
 
 
 
 
 
 
 
Basic
$
3.29

 
$
(4.10
)
 
$
5.10

 
$
(2.74
)
Diluted
$
3.02

 
$
(4.10
)
 
$
4.68

 
$
(2.74
)
 
 
 
 
 
 
 
 
Potentially dilutive common shares excluded from calculations:
 
 
 
 
 
 
 
1.125% Warrants (1)
—

 
2

 
—

 
1

______________________________
(1)
For more information and definitions regarding the 1.625% Exchange and the 1.625% Convertible Notes, refer to Note 7, “Debt.” For more information regarding the 1.125% Warrants, refer to Note 9, “Stockholders' Equity.” The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income (loss) per share because to do so would be anti-dilutive. For the three and six months ended June 30, 2017, the 1.125% Warrants were not included in diluted shares outstanding because to do so would have been anti-dilutive.
(2)
Source data for calculations in thousands.