Net Income (Loss) Attributable to Company Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Attributable to Company Per Share

12.Net Income (Loss) Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2022		2021			2022		2021
Numerator:
Net income (loss) attributable to Company	$	69	$	(26	)	$	19	$	(141	)
Denominator:
Basic—weighted average common shares outstanding		390		386			389		386
Dilutive effect of employee stock options and other unvested stock awards		3		—			3		—
Diluted outstanding shares		393		386			392		386
Net income (loss) attributable to Company per share:
Basic	$	0.18	$	(0.07	)	$	0.05	$	(0.37	)
Diluted	$	0.18	$	(0.07	)	$	0.05	$	(0.37	)
Cash dividends per share	$	0.05	$	—		$	0.10	$	-

Companies with unvested participating securities are required to utilize a two-class method for the computation of net income attributable to Company per share. The two-class method requires a portion of net income attributable to 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 loss attributable to Company allocated to these participating securities was immaterial for each of the three and six months ended June 30, 2022 and 2021, respectively.

The Company had stock options outstanding that were anti-dilutive totaling 20 million and 21 million shares for the three and six months ended June 30, 2022, respectively, compared to 23 million and 21 million shares for the three and six months ended June 30, 2021, respectively.