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Net Income per Share
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
The following table sets forth the calculation of net income per share:
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
 (In millions, except net income per share)
Numerator:
Net income$185 $175 $639 $569 
Denominator:
Shares outstanding at the beginning of the period58.7 62.2 61.9 62.1 
Weighted-average number of shares issued:
Stock purchases— — (2.8)— 
Stock-based compensation— — 0.1 0.1 
Denominator for basic net income per share58.7 62.2 59.2 62.2 
Effect of dilutive securities: (1)
Warrants— 0.8 — 1.8 
Stock-based compensation0.9 0.6 0.8 0.6 
Denominator for diluted net income per share59.6 63.6 60.0 64.6 
Net income per share - Basic (2)
$3.14 $2.81 $10.80 $9.15 
Net income per share - Diluted (2)
$3.10 $2.75 $10.65 $8.80 
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(1)    The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. All warrants outstanding as of December 31, 2019, were settled in the first quarter of 2020. For more information refer to Note 9, “Stockholders' Equity.”
(2)    Source data for calculations in thousands.