Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2023

Basic net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The dilutive effect of outstanding options and equity incentive awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) per share excludes all anti-dilutive shares of common stock.

The following table presents the computation of basic and diluted net income (loss) per share for the periods indicated (in millions, except per share amounts):


	Three Months Ended March 31,
	2023		2022
Numerator:
Income (loss) from continuing operations	$	569	$	(1,339)
(Loss) from discontinued operations, net of income taxes	(2)		(2)
Net income (loss)	$	567	$	(1,341)
Denominator:
Weighted average shares of common stock - basic	537		587
Dilutive effect of equity incentive awards	4		—
Weighted average shares of common stock - diluted	541		587


Income (loss) per share - basic:
Continuing operations	$	1.06	$	(2.28)
Discontinued operations	—		—
Net income (loss) per share - basic	$	1.06	$	(2.28)
Income (loss) per share - diluted:
Continuing operations	$	1.05	$	(2.28)
Discontinued operations	—		—
Net income (loss) per share - diluted	$	1.05	$	(2.28)
Common stock equivalents excluded from income (loss) per diluted share because their effect would have been anti-dilutive	12		7