Net Income (Loss) Attributable to Company Per Share

9 Months Ended

Sep. 30, 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					Nine Months Ended
	September 30,					September 30,
	2016			2015		2016			2015
Numerator:
Net income (loss) attributable to Company	$	(1,362	)	$	155	$	(1,698	)	$	754

Denominator:
Basic—weighted average common shares outstanding		376			380		375			392
Dilutive effect of employee stock options and other unvested stock awards		—			1		—			1

Diluted outstanding shares		376			381		375			393

Net income (loss) attributable to Company per share:
Basic	$	(3.62	)	$	0.41	$	(4.53	)	$	1.92

Diluted	$	(3.62	)	$	0.41	$	(4.53	)	$	1.92

Cash dividends per share	$	0.05		$	0.46	$	0.56		$	1.38

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 and nine months ended September 30, 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 14 million for each of the three and nine months ended September 30, 2016, and 15 million and 14 million shares for each of the three and nine months ended September 30, 2015, respectively.