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Earnings Per Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | NOTE 6. EARNINGS PER SHARE Basic earnings per share are computed based on the weighted average number of common shares outstanding. Diluted earnings per share are calculated to reflect the potential dilution that could occur if securities or other contracts were exercised or converted into common stock. Basic and diluted earnings per common share are calculated as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(In millions, except per share amounts) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Earnings (loss) per share — basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodyear net income (loss) |  | $ | (2 | ) |  | $ | 88 |  |  | $ | (1,317 | ) |  | $ | 81 |
Weighted average shares outstanding |  |  | 234 |  |  |  | 233 |  |  |  | 234 |  |  |  | 233 |
Earnings (loss) per common share — basic |  | $ | (0.01 | ) |  | $ | 0.38 |  |  | $ | (5.62 | ) |  | $ | 0.35 |
Earnings (loss) per share — diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodyear net income (loss) |  | $ | (2 | ) |  | $ | 88 |  |  | $ | (1,317 | ) |  | $ | 81 |
Weighted average shares outstanding |  |  | 234 |  |  |  | 233 |  |  |  | 234 |  |  |  | 233 |
Dilutive effect of stock options and other dilutive securities |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Weighted average shares outstanding — diluted |  |  | 234 |  |  |  | 234 |  |  |  | 234 |  |  |  | 234 |
Earnings (loss) per common share — diluted |  | $ | (0.01 | ) |  | $ | 0.38 |  |  | $ | (5.62 | ) |  | $ | 0.35 |
Weighted average shares outstanding – diluted for the three and nine months ended September 30, 2020 excludes approximately 9 million equivalent shares related to options with exercise prices greater than the average market price of our common shares (i.e., "underwater" options). There were approximately 3 million and 2 million equivalent shares related to underwater options for the three and nine months ended September 30, 2019, respectively.

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