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Earnings Per Share

3 Months Ended

Mar. 31, 2020

The computations of the weighted average shares outstanding for the periods indicated are as follows (in millions):


	Three Months Ended March 31,
	2020	2019
Weighted average shares outstanding	423.8	422.8
Share-based payment awards classified as participating securities (1)	—	0.2
Basic weighted average shares outstanding	423.8	423.0
Dilutive securities (2)	—	—
Diluted weighted average shares outstanding	423.8	423.0

(1)For the three months ended March 31, 2020 and 2019, dividends and equivalents for share-based awards that are expected to be forfeited do not have a material effect on net income for basic and diluted earnings per share.

(2)The three months ended March 31, 2020 and 2019 exclude 1.1 million and 0.4 million, respectively, of potentially dilutive share-based awards as their effect would be anti-dilutive.

At March 31, 2020, there were 0.7 million potentially dilutive restricted stock awards with performance-based vesting targets that were not met and as such, have been excluded from the computation of diluted earnings per share.