v3.20.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
Note 15 – Earnings Per Share

The computation of basic and diluted earnings per share was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions, except shares and per share amounts)2020201920202019
(Loss) income from continuing operations$(210) $939  $741  $1,847  
Income from discontinued operations, net of tax320  —  320  —  
Net income$110  $939  $1,061  $1,847  
Weighted average shares outstanding - basic1,236,528,444  854,368,443  1,047,338,364  852,796,369  
Effect of dilutive securities:
Outstanding stock options and unvested stock awards—  5,767,150  9,782,025  8,094,501  
Weighted average shares outstanding - diluted1,236,528,444  860,135,593  1,057,120,389  860,890,870  
Basic earnings (loss) per share:
Continuing operations$(0.17) $1.10  $0.71  $2.16  
Discontinued operations0.26  —  0.30  —  
Earnings per share - basic$0.09  $1.10  $1.01  $2.16  
Diluted earnings (loss) per share:
Continuing operations$(0.17) $1.09  $0.70  $2.14  
Discontinued operations0.26  —  0.30  —  
Earnings per share - diluted$0.09  $1.09  $1.00  $2.14  
Potentially dilutive securities:
Outstanding stock options and unvested stock awards10,234,947  67,856  443,679  39,342  
SoftBank contingent consideration48,751,557  24,375,778  

On April 1, 2020, in connection with the closing of the Merger, we amended and restated the Company’s certificate of incorporation in the form of the Fifth Amended and Restated Certificate of Incorporation (the “Restated Certificate”). Pursuant
to the Restated Certificate, the authorized capital stock of T-Mobile consists of 2,000,000,000 shares of T-Mobile common stock and 100,000,000 shares of preferred stock, par value $0.00001 per share.

As of June 30, 2020, we had authorized 100 million shares of preferred stock, with a par value of $0.00001 per share. There was no preferred stock outstanding as of June 30, 2020 and 2019. Potentially dilutive securities were not included in the computation of diluted earnings per share if to do so would have been anti-dilutive or if there was a loss from continuing operations for the period.
The SoftBank Specified Shares Amount of 48,751,557 was determined to be contingent consideration for the Merger and is not dilutive until the defined volume-weighted average price per share is reached.