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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Basic and Diluted 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.