Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
Basic earnings (loss) per share (EPS) is computed by dividing net earnings (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the reportable period. Diluted EPS is computed by adjusting basic EPS for the effect of all potential common shares unless they are anti-dilutive. For purpose of this calculation, potentially dilutive securities are determined by applying the treasury stock method to the assumed exercise of in-the-money stock options and the assumed vesting of outstanding restricted stock awards (RSAs) and release of deferred restricted stock units (RSUs). Potentially dilutive securities related to convertible senior notes are determined using the if-converted method.
The Company's vested deferred RSUs have non-forfeitable rights to dividends prior to release and are considered participating securities. Accordingly, they are included in the computation of basic and diluted EPS, pursuant to the two-class method; however, due to amounts being below $1 million dollars, they are not shown in the table below. Under the two-class method, distributed and undistributed earnings allocated to participating securities are excluded from net earnings (loss) attributable to common stockholders for purposes of calculating basic and diluted EPS. However, net losses are not allocated to participating securities since they are not contractually obligated to share in the losses of the Company.
Potentially dilutive securities excluded from the calculation of diluted EPS because their effect would have been anti-dilutive were 9 million and 9 million shares, respectively, for the three and nine months ended September 30, 2019, and 9 million shares and less than 1 million shares, respectively, for the three and nine months ended September 30, 2018.
The computations for Class A basic and diluted EPS are as follows (in millions, except share data):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2019
 
2018
 
2019
 
2018
Numerator for basic and diluted EPS:
 
 
 
 
 
 
 
Net earnings (loss) attributable to controlling interest
$
(51
)
 
$
(13
)
 
$
(88
)
 
$
156

Numerator for basic EPS - net income (loss) attributable to common stockholders
$
(51
)
 
$
(13
)
 
$
(88
)
 
$
156

Add back convertible senior notes interest
—

 
—

 
—

 
11

Numerator for diluted EPS - net income (loss) attributable to common stockholders
$
(51
)
 
$
(13
)
 
$
(88
)
 
$
167

 
 
 
 
 
 
 
 
Denominator for EPS:
 
 
 
 
 
 
 
Weighted average number of shares:
 
 
 
 
 
 
 
Class A common stock - basic
97,600,393

 
97,460,492

 
97,595,765

 
97,464,012

Add dilutive effect of:
 
 
 
 
 
 
 
Restricted stock awards
—

 
—

 
—

 
153,444

Restricted stock units
—

 
—

 
—

 
652

Convertible senior notes
—

 
—

 
—

 
8,170,740

Class A common stock - diluted
97,600,393

 
97,460,492

 
97,595,765

 
105,788,848

 
 
 
 
 
 
 
 
EPS:
 
 
 
 
 
 
 
Class A common stock:
 
 
 
 
 
 
 
Basic
$
(0.53
)
 
$
(0.13
)
 
$
(0.91
)
 
$
1.60

Diluted
$
(0.53
)
 
$
(0.13
)
 
$
(0.91
)
 
$
1.58

 
 
 
 
 
 
 
 
Dividends declared per Class A common share
$
0.42

 
$
0.42

 
$
1.27

 
$
1.27