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Earnings per Share | 12 Months Ended
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Dec. 31, 2020
Earnings Per Share [Abstract] |
Earnings per Share |
| 2 5. | EARNINGS PER SHARE
For the years ended December 31, 2020, 2019 and 2018, earnings per share (“EPS”) was calculated as follows:
|  | Year ended December 31, 2020 |  |  | Year ended December 31, 2019 |  |  | Year ended December 31, 2018 |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to parent company |  |  | 1,106 |  |  |  | 1,032 |  |  |  | 1,287 |
Weighted average shares outstanding |  |  | 894,578,477 |  |  |  | 894,297,697 |  |  |  | 899,363,170 |
Basic EPS |  |  | 1.24 |  |  |  | 1.15 |  |  |  | 1.43 |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to parent company |  |  | 1,106 |  |  |  | 1,032 |  |  |  | 1,287 |
Weighted average shares outstanding |  |  | 894,578,477 |  |  |  | 894,297,697 |  |  |  | 899,363,170 |
Dilutive effect of stock awards |  |  | 8,860,216 |  |  |  | 7,014,595 |  |  |  | 7,251,641 |
Dilutive effect of convertible debt |  |  | 16,291,279 |  |  |  | 2,333,493 |  |  |  | 4,341,334 |
Number of shares used in calculating diluted EPS |  |  | 919,729,972 |  |  |  | 903,645,785 |  |  |  | 910,956,145 |
Diluted EPS |  |  | 1.20 |  |  |  | 1.14 |  |  |  | 1.41 |
In application of the treasury method implying that the Company intends to settle the convertible bonds on a net-share basis, there was no dilutive effect of the senior unsecured convertible bonds issued on August 4, 2020 in the 2020 diluted Earnings per Share since the conversion features were out-of-the-money. Dilutive effect of convertible bonds presented in the table above is related to the senior unsecured convertible bonds issued on July 3, 2017. The dilutive effect of the convertible bonds is measured based on the treasury method according to which the dilutive effect of the convertible bonds is included in the denominator of diluted EPS for the amount of shares transferred assuming a net-share settlement. Based on the stock price measured as at December 31, 2020 ($37.12), the consideration transferred to bondholders of the Tranche B of the convertible bonds issued on July 3, 2017, if converted, would exceed the $750 million principal amount by $605 million.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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