Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 15: EARNINGS PER SHARE

Below is a reconciliation of the weighted average number of shares of common stock outstanding in calculating Diluted EPS for the periods presented:

	Year ended December 31,
	2023		2022		2021
	(shares in thousands and $ in millions, except per share amounts)
Numerator:
Net income (loss) used to compute Basic EPS	$	10	$	20	$	(148	)
Interest expense on 2026 Senior Notes, net of tax		1		1		—
Net income (loss) used to compute Diluted EPS	$	11	$	21	$	(148	)
Denominator:
Weighted average shares used to compute Basic EPS		139,412		139,923		137,234
Weighted average effect of dilutive securities:
Stock-based awards (Note 13)		729		1,073		—
2026 Senior Notes (Note 8)		4,674		4,674		—
Weighted average shares used to compute Diluted EPS		144,815		145,670		137,234
Basic EPS	$	0.07	$	0.14	$	(1.08	)
Diluted EPS	$	0.08	$	0.14	$	(1.08	)

Potential common shares, consisting of outstanding stock options, RSUs and those issuable under the 2026 Senior Notes, totaling approximately 14.8 million, 11.4 million, and 16.1 million, for the years ended December 31, 2023, 2022 and 2021, respectively, have been excluded from the calculations of Diluted EPS because their effect would have been antidilutive. In addition, potential common shares of certain performance-based awards of approximately 1.1 million, 0.3 million, and 0.1 million, for the years ended December 31, 2023, 2022 and 2021, respectively, for which all targets required to trigger vesting had not been achieved, were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.

The earnings per share amounts are the same for our 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. In addition, our non-vested RSUs are entitled to dividend equivalents, which are payable to the holder subject to, and only upon vesting of, the underlying awards and are therefore forfeitable. Given such dividend equivalents are forfeitable, we do not consider them to be participating securities and, consequently, they are not subject to the two‑class method of determining earnings per share.