Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Basic And Diluted Earnings (Loss)

Basic and diluted earnings (loss) per share are calculated as follows:


	Three Months Ended March 31,
	2022		2021
Net income (loss) available to common shareholders	$	48	$	(61)
Determination of shares:
Weighted average common shares outstanding	488.0		486.7
Assumed conversion of dilutive common stock equivalents (1)	4.2		—
Diluted weighted average shares outstanding	492.2		486.7
Earnings (loss) per share (2)
Basic	$	0.10	$	(0.12)
Diluted	$	0.10	$	(0.12)

(1)During the three months ended March 31, 2021, we reported a net loss. Therefore, dilutive common stock equivalents are not assumed to have been issued since their effect is anti-dilutive. As a result, basic and diluted weighted average shares are the same, causing diluted net loss per share to be equivalent to basic net loss per share. For the three months ended March 31, 2022 and 2021, approximately 0.1 million and 4.4 million, respectively, of potential common shares were excluded from the calculation of diluted earnings (loss) per share because their effect was anti-dilutive.

(2)Due to rounding conventions, earnings (loss) per share may not recalculate precisely based on the amounts presented within this table.