Note 12 - Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE 12—STOCKHOLDERS’ EQUITY

Preferred Stock

We have authorized 100,000,000 shares of preferred stock. Our Board of Directors has the authority to issue shares of the preferred stock. As of December 31, 2022 and 2021, the 363,000 shares of preferred stock described in Note 11 were issued and outstanding.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss in the accompanying consolidated balance sheets consists of the following (in millions):

	December 31,
	2022			2021
Currency translation adjustments	$	(230	)	$	(225	)
Hedge accounting adjustments		1			(5	)
Other adjustments		(1	)		(1	)
Accumulated other comprehensive loss	$	(230	)	$	(231	)

Earnings per Share

Earnings per share are calculated in the table below (in millions, except per share amounts):

	Year Ended December 31,
	2022		2021			2020
Net income (loss) attributable to common stockholders	$	51	$	(38	)	$	(298	)
Average basic shares outstanding		83.5		82.5			82.0
Effect of dilutive securities		1.4		—			—
Average diluted shares outstanding		84.9		82.5			82.0
Net (loss) income per share:
Basic	$	0.61	$	(0.46	)	$	(3.63	)
Diluted	$	0.60	$	(0.46	)	$	(3.63	)

Equity awards and shares of Preferred Stock are disregarded in this calculation if they are determined to be anti-dilutive. For the years ended December 31, 2022, 2021 and 2020 all of the shares of Preferred Stock were anti-dilutive. We had approximately 1.2 million, 2.3 million and 3.6 million anti-dilutive stock options, restricted stock units, and performance units for the years ended December 31, 2022, 2021, and 2020, respectively.