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Earnings Per Share
 3 Months Ended
Mar. 31, 2023
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 March 31,

 

 

 

 

2023

 

 

2022

 

 

 

 

(in millions, except per share amounts)

Numerator:

 

 

 

 

 

 

 

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

 

$

33

 

 

$

(57

)

 

Denominator:

 

 

 

 

 

 

 

Weighted average shares outstanding – basic

 

 

220

 

 

 

235

 

 

Unvested restricted shares

 

 

1

 

 

 

—

 

 

Weighted average shares outstanding – diluted

 

 

221

 

 

 

235

 

 

 

 

 

 

 

 

 

Earnings (loss) per share – Basic(1)

 

$

0.15

 

 

$

(0.24

)

 

Earnings (loss) per share – Diluted(1)

 

$

0.15

 

 

$

(0.24

)

 

 

(1) Per share amounts are calculated based on unrounded numbers.

 

Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three months ended March 31, 2023 and 2022 because their effect would have been anti-dilutive.