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Earnings (Loss) Per Common Share (Unit)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Earnings (Loss) Per Common Share (Unit)

3.

Earnings (Loss) Per Common Share (Unit)

Basic earnings (loss) per common share (unit) is computed by dividing net income (loss) attributable to common stockholders (unitholders) by the weighted average number of shares of Host Inc. common stock or Host L.P. common units outstanding. Diluted earnings (loss) per common share (unit) is computed by dividing net income (loss) attributable to common stockholders (unitholders), as adjusted for potentially dilutive securities, by the weighted average number of shares of Host Inc. common stock or Host L.P. common units outstanding plus other potentially dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans or the Host L.P. common units distributed to Host Inc. to support such granted shares, and other non-controlling interests that have the option to convert their limited partner interests to Host L.P. common units. No effect is shown for any securities that are anti-dilutive. We have 10.2 million Host L.P. common units, which are convertible into 10.4 million Host Inc. common shares, that are not included in Host Inc.’s calculation of earnings (loss) per share as their effect is not dilutive. The calculation of Host Inc. basic and diluted earnings (loss) per common share is shown below (in millions, except per share amounts):

 

 

 

Quarter ended June 30,

 

 

Year-to-date ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income (loss)

 

$

260

 

 

$

(61

)

 

$

378

 

 

$

(214

)

Less: Net (income) loss attributable to non-controlling interests

 

 

(4

)

 

 

1

 

 

 

(6

)

 

 

2

 

Net income (loss) attributable to Host Inc.

 

$

256

 

 

$

(60

)

 

$

372

 

 

$

(212

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

714.8

 

 

 

707.6

 

 

 

714.6

 

 

 

706.6

 

Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market

 

 

2.2

 

 

 

—

 

 

 

2.2

 

 

 

—

 

Diluted weighted average shares outstanding

 

 

717.0

 

 

 

707.6

 

 

 

716.8

 

 

 

706.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share

 

$

0.36

 

 

$

(0.09

)

 

$

0.52

 

 

$

(0.30

)

Diluted earnings (loss) per common share

 

$

0.36

 

 

$

(0.09

)

 

$

0.52

 

 

$

(0.30

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The calculation of Host L.P. basic and diluted earnings (loss) per unit is shown below (in millions, except per unit amounts):

 

 

 

Quarter ended June 30,

 

 

Year-to-date ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income (loss)

 

$

260

 

 

$

(61

)

 

$

378

 

 

$

(214

)

Less: Net loss attributable to non-controlling interests

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income (loss) attributable to Host L.P.

 

$

261

 

 

$

(61

)

 

$

378

 

 

$

(214

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average units outstanding

 

 

710.0

 

 

 

699.9

 

 

 

709.5

 

 

 

699.0

 

Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market

 

 

2.2

 

 

 

—

 

 

 

2.1

 

 

 

—

 

Diluted weighted average units outstanding

 

 

712.2

 

 

 

699.9

 

 

 

711.6

 

 

 

699.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common unit

 

$

0.37

 

 

$

(0.09

)

 

$

0.53

 

 

$

(0.31

)

Diluted earnings (loss) per common unit

 

$

0.37

 

 

$

(0.09

)

 

$

0.53

 

 

$

(0.31

)