Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Reconciliation of earnings attributable to common stockholders, basic and diluted

The components of basic and diluted net income (loss) per share attributable to common stockholders are as follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Net income (loss) attributable to common stockholders	$	2,118	$	(200)	$	773
Participating share-based earnings (a)	(5)		—		(3)
Basic net income (loss) attributable to common stockholders	2,113		(200)		770
Adjustment to after-tax interest expense to reflect the dilutive impact attributable to Convertible Notes	6		—		—
Diluted net income (loss) attributable to common stockholders	$	2,119	$	(200)	$	770
Basic weighted average shares outstanding	233		165		167
Contingently issuable stock-based compensation	1		—		—
Convertible Notes (b)	12		—		—
Diluted weighted average shares outstanding	246		165		167

______________________

(a)Unvested restricted stock awards represent participating securities because they participate in non-forfeitable dividends with the common equity owners of the Company. Participating share-based earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so. The dilutive effect of the reallocation of participating share-based earnings to diluted net income (loss) attributable to common stockholders was negligible.

(b)Diluted weighted average common shares outstanding includes the dilutive effect had the Company's Convertible Notes been converted at the beginning of the year ended December 31, 2021. If converted by the holder, the Company may settle in cash, shares of the Company's common stock or a combination thereof, at the Company's election.

Class of Treasury Stock

Expenditures to acquire shares under the share repurchase program are as follows:

	Year Ended December 31,
	2021		2020		2019
	(in millions)
Shares repurchased (a)	$	250	$	160	$	622

______________________

(a)During the year ended December 31, 2021, 1,379,634 shares were repurchased under the share repurchase program, as compared to 1,511,930 and 4,532,482 shares repurchased for the year ended December 31, 2020 and 2019, respectively.