Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

9. Earnings (Loss) Per Share

For the three and six months ended June 30, 2022, approximately 2 million and 3 million, respectively, of potentially dilutive shares were excluded from the computation of diluted earnings per share due to their antidilutive effect. For the three and six months ended June 30, 2021, approximately 6 million of potentially dilutive shares were excluded in both periods from the computation of diluted earnings per share due to the Company recognizing a net loss.

Basic and diluted earnings (loss) per share are as follows (in millions, except share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net income (loss) attributable to the Company	$	26		$	(2	)	$	56		$	(12	)
Less: net income attributable to participating securities		(1	)		—			(1	)		—
Net income (loss) attributable to the Company's stockholders	$	25		$	(2	)	$	55		$	(12	)
Denominator:
Weighted average basic common shares outstanding		110,772,042			110,419,322			110,687,985			110,246,306
Effect of dilutive securities		302,291			—			260,932			—
Weighted average diluted common shares outstanding		111,074,333			110,419,322			110,948,917			110,246,306
Earnings (loss) per share attributable to the Company's stockholders:
Basic	$	0.23		$	(0.02	)	$	0.50		$	(0.11	)
Diluted	$	0.23		$	(0.02	)	$	0.50		$	(0.11	)

Under ASC Topic 260, “Earnings Per Share”, the two-class method requires a portion of net income attributable to the 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 is not allocated to unvested awards in periods the Company determines that those shares are not obligated to participate in losses. For the periods that the Company recognized net income, net income attributable to the Company allocated to these participating securities was excluded from net income attributable to the Company’s stockholders in the numerator of the earnings per share computation.