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Earnings Per Share (Notes)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted Earnings Per Share
Basic earnings per share is calculated by dividing net (loss) income by the weighted average number of shares outstanding during the period. Diluted earnings per share is calculated similarly but includes potential dilution from restricted stock units, the Crewmember Stock Purchase Plan, and any other potentially dilutive instruments using the treasury stock method. Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share amounts were 2.0 million for the three months ended March 31, 2020. There were no anti-dilutive common stock equivalents during the three months ended March 31, 2019 .
The following table shows how we computed basic and diluted earnings per common share for the three months ended March 31, 2020 and 2019 (dollars and share data in millions):
 
Three Months Ended March 31,
 
2020
 
2019
Net (loss) income
$
(268
)
 
$
42

 
 
 
 
Weighted average basic shares
277.2

 
305.3

Effect of dilutive securities
—

 
1.6

Weighted average diluted shares
277.2

 
306.9

 
 
 
 
(Loss) earnings per common share
 
 
 
Basic
$
(0.97
)
 
$
0.14

Diluted
$
(0.97
)
 
$
0.14

On February 24, 2020, JetBlue entered into an accelerated share repurchase agreement, or ASR, paying $160 million for an initial delivery of 6.6 million shares. The term of the ASR concluded on March 16, 2020 with delivery of 4.9 million additional shares to JetBlue on March 18, 2020. A total of 11.5 million shares, at an average price of $13.91 per share, were repurchased under the agreement.
On November 21, 2019, JetBlue entered into an ASR paying $160 million for an initial delivery of 6.9 million shares. The term of the ASR concluded on February 21, 2020 with delivery of 1.5 million additional shares to JetBlue on February 25, 2020. A total of 8.4 million shares, at an average price of $19.03 per share, were repurchased under the agreement.
On March 11, 2019, JetBlue entered into an ASR, paying $125 million for an initial delivery of 6.1 million shares. The term of the ASR concluded on May 21, 2019 with the delivery of 1.3 million additional shares to JetBlue on May 22, 2019. A total of 7.4 million shares, at an average price of $16.93 per share, were repurchased under the agreement.