Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Computation of Basic and Diluted Earnings (Loss) Per Share

Basic and diluted earnings (loss) per share follows (in millions, except share data):

	Year Ended December 31,
(In millions, except share data)	2015			2014			2013
Numerator for basic and diluted net income (loss) per share attributable to the Company's stockholders:
Net income (loss) attributable to the Company	$	(502	)	$	116		$	147
Less: net income attributable to nonvested shares⁽¹⁾		—			(1	)		—
Net income (loss) attributable to the Company's stockholders	$	(502	)	$	115		$	147
Denominator for basic earnings (loss) per share attributable to the Company's stockholders:
Weighted average common shares outstanding		107,173,972			107,058,843			107,053,031
Effect of dilutive securities: Dilutive effect of stock based compensation		—			497,301			415,837
Denominator for diluted earnings (loss) per share attributable to the Company's stockholders:		107,173,972			107,556,144			107,468,868
Earnings (loss) per share attributable to the Company's stockholders:
Basic	$	(4.68	)	$	1.07		$	1.37
Diluted	$	(4.68	)	$	1.06		$	1.37

⁽¹⁾

ASC Topic 260, “Earnings Per Share” (“ASC Topic 260”) requires companies with unvested participating securities to utilize a two-class method for the computation of net income attributable to the Company per share. The two-class method requires a portion of net income attributable to the 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 losses are not allocated to nonvested shares in periods that the Company determines that those shares are not obligated to participate in losses. For the periods that the Company recognized net income, net income attributable to the Company allocated to these participating securities was excluded from net income attributable to the Company’s stockholders in the numerator of the earnings per share computation.