Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2020

11. Earnings (Loss) Per Share

For the three and six months ended June 30, 2020, the computation of diluted earnings per share excluded potentially dilutive shares of approximately 6 million in both periods due to the Company recognizing a net loss, compared to 3 million in both periods for the corresponding periods of 2019 due to their antidilutive effect.

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

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020			2019
Numerator:
Net income (loss) attributable to the Company	$	(30	)	$	14	$	(361	)	$	32
Less: net income attributable to participating securities		—			—		—			—
Net income (loss) attributable to the Company's stockholders	$	(30	)	$	14	$	(361	)	$	32
Denominator:
Weighted average basic common shares outstanding		109,337,545			108,750,705		109,294,719			108,653,949
Effect of dilutive securities		—			561,020		—			532,723
Weighted average diluted common shares outstanding		109,337,545			109,311,725		109,294,719			109,186,672
Earnings (loss) per share attributable to the Company's stockholders:
Basic	$	(0.27	)	$	0.12	$	(3.30	)	$	0.29
Diluted	$	(0.27	)	$	0.12	$	(3.30	)	$	0.29

Under ASC Topic 260, “Earnings 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. Net income attributable to the Company allocated to these participating securities was less than $1 million for the three and six months ended June 30, 2019.