Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2021

The following table sets forth the computation of Net Income (Loss) Per Share for the three-month and nine-month periods ended September 30, 2021 and 2020 (in millions, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator for Basic and Diluted Earnings Per Share -
Net Income (Loss)	$	1,095	$	(42)	$	2,679	$	(942)
Denominator for Basic Earnings Per Share -
Weighted Average Shares	581		579		580		579
Potential Dilutive Common Shares -
Stock Options/SARs/ESPP	1		—		1		—
Restricted Stock/Units and Performance Units	2		—		3		—
Denominator for Diluted Earnings Per Share -
Adjusted Diluted Weighted Average Shares	584		579		584		579
Net Income (Loss) Per Share
Basic	$	1.88	$	(0.07)	$	4.62	$	(1.63)
Diluted	$	1.88	$	(0.07)	$	4.59	$	(1.63)

The diluted earnings per share calculation excludes stock option, SAR, restricted stock, restricted stock unit, Performance Unit and ESPP grants that were anti-dilutive. Shares underlying the excluded stock option, SAR and ESPP grants were 7 million shares for both the three and nine months ended September 30, 2021, and 9 million shares for both the three and nine months ended September 30, 2020. For the three and nine months ended September 30, 2020, 5 million shares underlying grants of restricted stock, restricted stock units and Performance Units were excluded.