Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Weighted-Average Shares Outstanding

The following is a calculation of basic and diluted earnings per share:

	Three Months Ended  September 30,				Nine Months Ended  September 30,
(In millions, except per share amounts)	2022		2021		2022		2021
Income (Numerator)
Net income	$	1,196	$	64	$	3,033	$	220
Less: dividends attributable to participating securities	(2)		—		(5)		—
Less: Cimarex redeemable preferred stock dividends	—		—		(1)		—
Net income available to common stockholders	$	1,194	$	64	$	3,027	$	220
Shares (Denominator)
Weighted-average shares - Basic	792		400		801		399
Dilution effect of stock awards at end of period	5		3		4		3
Weighted-average shares - Diluted	797		403		805		402
Earnings per share:
Basic	$	1.51	$	0.16	$	3.78	$	0.55
Diluted	$	1.50	$	0.16	$	3.77	$	0.55

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

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

	Three Months Ended  September 30,		Nine Months Ended  September 30,
(In millions)	2022	2021	2022	2021
Weighted-average stock awards excluded from diluted EPS due to the anti-dilutive effect calculated using the treasury stock method	1	—	1	1