EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Reconciliation of the Earnings (Losses) and Number of Shares Used in Calculations of Basic and Diluted Earnings Per Share

The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of the Company’s potential common stock:


(in millions, except per share amounts)	2022		2021		2020
Computation of Basic Earnings Per Share
Net income (loss)	$	2,358	$	1,099	$	(267)
Shares for basic earnings per share	324.4		327.2		325.8
Basic earnings (loss) per share	$	7.27	$	3.36	$	(0.82)
Computation of Diluted Earnings Per Share
Net income (loss)	$	2,358	$	1,099	$	(267)
Shares for basic earnings per share	324.4		327.2		325.8
Effect of dilutive securities
Stock-based compensation(1)	1.4		2.1		—
Shares for diluted earnings per share	325.8		329.3		325.8
Diluted earnings (loss) per share	$	7.24	$	3.34	$	(0.82)

(1) For the calculation of diluted loss per share for 2020, we excluded share-based compensation securities of 1.4 million because the effect was anti-dilutive.