Net Income (Loss) Attributable to Company Per Share

3 Months Ended

Mar. 31, 2016

Net Income (Loss) Attributable to Company Per Share

11. Net Income (Loss) Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):


	Three Months Ended March 31,
	2016			2015
Numerator:
Net income (loss) attributable to Company	$	(119	)	$	310

Denominator:
Basic—weighted average common shares outstanding		375			407
Dilutive effect of employee stock options and other unvested stock awards		—			2

Diluted outstanding shares		375			409

Net income (loss) attributable to Company per share:
Basic	$	(0.32	)	$	0.76

Diluted	$	(0.32	)	$	0.76

Cash dividends per share	$	0.46		$	0.46

ASC Topic 260, “Earnings Per Share” requires companies with unvested participating securities to utilize a two-class method for the computation of net income attributable to Company per share. The two-class method requires a portion of net income attributable to Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents, if declared. Net income attributable to Company allocated to these participating securities was immaterial for the three months ended March 31, 2016 and therefore not excluded from net income attributable to Company per share calculation.

The Company had stock options outstanding that were anti-dilutive totaling 15 million and 14 million shares for the three months ended March 31, 2016 and 2015, respectively.