Earnings/(Loss) Per Common Share

9 Months Ended

Sep. 30, 2022

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings/(loss) per common share computations for the nine and three months ended September 30, 2022 and 2021 (in millions, except per share amounts):


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Basic:
Net income/(loss) attributable to Intercontinental Exchange, Inc.	$	1,021	$	2,531	$	(191)	$	633
Weighted average common shares outstanding	559		563		558		563
Basic earnings/(loss) per common share	$	1.83	$	4.50	$	(0.34)	$	1.12
Diluted:
Weighted average common shares outstanding	559		563		558		563
Effect of dilutive securities - stock options and restricted stock	2		2		2		3
Diluted weighted average common shares outstanding	561		565		560		566
Diluted earnings/(loss) per common share	$	1.82	$	4.48	$	(0.34)	$	1.12

Basic earnings/(loss) per common share is calculated using the weighted average common shares outstanding during the period.

Common equivalent shares from stock options and restricted stock awards, calculated using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During the nine months ended September 30, 2022 and 2021, 1 million and 0.3 million outstanding stock options and restricted stock awards, respectively, were not included in the computation of diluted earnings/(loss) per common share, because to do so would have had an antidilutive effect. In addition, for the nine months ended September 30, 2021, we excluded warrants and preferred and common incentive units under the Bakkt Equity Incentive Plan because they were also antidilutive. Certain figures in the table above may not recalculate due to rounding.