The following table reconciles basic and diluted earnings per share of common stock: | | | | | | | | | | | | | | | | | | (In millions, except per share amounts) | | For the Three Months Ended September 30 | | For the Nine Months Ended September 30 | Reconciliation of Basic and Diluted Earnings per Share of Common Stock | | 2016 |
| 2015 | | 2016 | | 2015 | | | | | | | | Net income (loss) | | $ | 380 |
| | $ | 395 |
| | $ | (381 | ) | | $ | 804 |
| | | | | | | | | | Weighted average number of basic shares outstanding | | 425 |
| | 423 |
| | 425 |
| | 422 |
| Assumed exercise of dilutive stock options and awards(1) | | 2 |
| | 1 |
| | — |
| | 1 |
| Weighted average number of diluted shares outstanding | | 427 |
| | 424 |
| | 425 |
| | 423 |
| | | | | | | | | | Basic earnings (losses) per share of common stock | | $ | 0.89 |
| | $ | 0.94 |
| | $ | (0.90 | ) | | $ | 1.91 |
| Diluted earnings (losses) per share of common stock | | $ | 0.89 |
| | $ | 0.93 |
| | $ | (0.90 | ) | | $ | 1.90 |
|
| | (1) | For the nine months ended September 30, 2016, three million shares were excluded from the calculation of diluted shares outstanding, as their inclusion would be antidilutive as a result of the net loss for the period. For the three months ended September 30, 2016 and 2015, and for the nine months ended September 30, 2015, one million shares were excluded from the calculation of diluted shares outstanding, as their inclusion would be antidilutive. |
|