Earnings Per Share

12 Months Ended

Dec. 31, 2022

NOTE 12 — Earnings Per Share

Basic Earnings Per Share

Basic earnings per share was calculated for the years ended December 31, 2022, 2021 and 2020 using the weighted average number of common and Class B common shares outstanding during the period excluding restricted stock and stock held in escrow.

Diluted Earnings Per Share

For the year ended December 31, 2022, we computed diluted earnings per share using (i) the number of shares of common stock and Class B common stock used in the basic earnings per share calculation as indicated above, (ii) if dilutive, the incremental common stock that we would issue upon the assumed exercise or vesting of stock-based awards and common stock warrants using the treasury stock method, (iii) if dilutive, our Convertible Notes using the if-converted method, and (iv) other stock-based commitments. In periods when we recognize a net loss, such as the years ended December 31, 2021 and 2020, we

exclude the impact of outstanding stock-based awards, common stock warrants and the potential share settlement impact related to our Convertible Notes from the diluted loss per share calculation as their inclusion would have an antidilutive effect.

The following table presents our basic and diluted earnings (loss) per share:


	Year Ended December 31,
	2022		2021		2020
	(In millions, except share and per share data)
Net income (loss) attributable to Expedia Group, Inc.	$	352	$	12	$	(2,612)
Preferred stock dividend	—		(67)		(75)
Loss on redemption of preferred stock	—		(214)		—
Net income (loss) attributable to Expedia Group, Inc. common stockholders	$	352	$	(269)	$	(2,687)
Earnings (loss) per share attributable to Expedia Group, Inc. available to common stockholders:
Basic	$	2.24	$	(1.80)	$	(19.00)
Diluted	2.17		(1.80)		(19.00)
Weighted average number of shares outstanding (000's):
Basic	156,672		149,734		141,414
Dilutive effect of:
Convertible Notes	3,921		—		—
Stock-based awards	1,153		—		—

Other dilutive securities	5		—		—
Diluted	161,751		149,734		141,414

For the year ended December 31, 2022, approximately 9 million of outstanding stock-based awards have been excluded from the calculations of diluted earnings per share attributable to common stockholders because their effect would have been antidilutive. For the year ended December 31, 2021, approximately 11 million of outstanding stock-based awards and approximately four million shares related to the potential share settlement impact related to our Convertible Notes were excluded. For the year ended December 31, 2020, approximately 22 million of outstanding stock-based awards and common stock warrants were excluded.

The earnings per share amounts are the same for common stock and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.