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Earnings Per Share
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

Note 9: Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share (“EPS”):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in millions, except per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to stockholders, net
   of earnings allocated to participating securities

 

$

150

 

 

$

(116

)

 

$

93

 

 

$

(306

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding – basic

 

 

228

 

 

 

236

 

 

 

232

 

 

 

235

 

Unvested restricted shares

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1

 

Weighted average shares outstanding – diluted

 

 

228

 

 

 

236

 

 

 

232

 

 

 

236

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share – Basic(1)

 

$

0.66

 

 

$

(0.49

)

 

$

0.40

 

 

$

(1.30

)

Earnings (loss) per share – Diluted(1)

 

$

0.66

 

 

$

(0.49

)

 

$

0.40

 

 

$

(1.30

)

 

(1) Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

 

Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three and six months ended June 30, 2022 and 2021 because their effect would have been anti-dilutive.