Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Weighted-Average Shares Outstanding

The following is a calculation of basic and diluted net earnings per common share under the two-class method:

	Year Ended December 31,
(In millions except per share amounts)	2021			2020		2019
Income (Numerator)
Net income	$	1,158		$	201	$	681
Less: dividends attributable to participating securities	(2)		(2)	—		—
Less: Cimarex redeemable preferred stock dividends	(1)			—		—
Net income available to common stockholders	$	1,155		$	201	$	681
Shares (Denominator)
Weighted average shares - Basic	503			399		416
Dilution effect of stock awards at end of period	1			2		2
Weighted average shares - Diluted	504			401		418
Earnings per share:
Basic	$	2.30		$	0.50	$	1.64
Diluted	$	2.29		$	0.50	$	1.63

Calculation of Weighted-Average Shares Excluded from Diluted EPS Due to Anti-Dilutive Effect

The following is a calculation of weighted-average shares excluded from diluted EPS due to the anti-dilutive effect:

	Year Ended December 31,
(In millions)	2021	2020	2019
Weighted-average stock awards excluded from diluted EPS due to the anti-dilutive effect calculated using the treasury stock method	1	—	1