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Earnings Per Share | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table shows how we computed basic and diluted earnings per common share for the years ended December 31 (dollars and share data in millions):
|  | 2019 |  | 2018 |  | 2017
Net income (1) |  | $ | 569 |  |  | $ | 189 |  |  | $ | 1,140 |
Weighted average basic shares |  | 296.6 |  |  | 312.9 |  |  | 328.7 |
Effect of dilutive securities |  | 1.8 |  |  | 1.6 |  |  | 1.7 |
Weighted average diluted shares |  | 298.4 |  |  | 314.5 |  |  | 330.4 |
Earnings per common share |  |  |  |  |  |
Basic |  | $ | 1.92 |  |  | $ | 0.60 |  |  | $ | 3.47 |
Diluted |  | $ | 1.91 |  |  | $ | 0.60 |  |  | $ | 3.45 |
(1) As discussed in Note 1 to our consolidated financial statements, we adopted ASC 842, Leases, as of January 1, 2019. The adoption of this standard increased previously reported net income by approximately $1 million for 2018, and $15 million or $0.04 per diluted share for 2017. It did not have a material impact on our earnings per diluted share in 2018. As discussed in Note 6 to our consolidated financial statements, JetBlue entered into various ASR agreements in 2019, 2018, and 2017 and purchased approximately 28.1 million, 19.1 million, and 18.7 million shares, respectively, for $535 million, $375 million, and $380 million, respectively. The number of shares repurchased are based on the volume weighted average prices of JetBlue's common stock during the term of the ASR agreements.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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