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STOCKHOLDERS’ EQUITY AND EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
STOCKHOLDERS’ EQUITY AND EARNINGS (LOSS) PER SHARE STOCKHOLDERS’ EQUITY AND EARNINGS (LOSS) PER SHARE
Stock Repurchase Program

The Company’s board of directors has approved a common stock repurchase program to acquire up to $4.0 billion of the Company’s outstanding common stock, excluding excise tax. Purchases under the repurchase program may be made from time to time in open market or privately negotiated transactions, and are subject to market conditions, applicable legal requirements, contractual obligations and other factors. The repurchase program does not require the Company to acquire any specific number of shares. This repurchase program may be suspended from time to time, modified, extended or discontinued by the board of directors at any time. During the three and nine months ended September 30, 2023 and 2022, the Company repurchased, excluding excise tax, approximately $56 million, $709 million, $472 million and $782 million of common stock under this repurchase program, respectively. As of September 30, 2023, approximately $1.8 billion remained available for use to repurchase shares under the Company’s common stock repurchase program, excluding excise tax.
Change in Ownership of Consolidated Subsidiaries

Non-controlling interests in the accompanying condensed consolidated financial statements represent minority interest ownership in Viper and Rattler through the Effective Date and are presented as a component of equity. When the Company’s relative ownership interests in Viper and Rattler change, adjustments to non-controlling interest and additional paid-in-capital, tax effected, will occur. The following table summarizes changes in the ownership interest in consolidated subsidiaries during the periods presented:

Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
(In millions)
Net income (loss) attributable to the Company$915 $1,184 $2,183 $3,379 
Change in ownership of consolidated subsidiaries(3)(15)(27)(36)
Change from net income (loss) attributable to the Company's stockholders and transfers to non-controlling interest$912 $1,169 $2,156 $3,343 

Earnings (Loss) Per Share

The Company’s earnings (loss) per share amounts have been computed using the two-class method. The two-class method is an earnings allocation proportional to the respective ownership among holders of common stock and participating securities. Basic earnings (loss) per share amounts have been computed based on the weighted-average number of shares of common stock outstanding for the period. Diluted earnings per share include the effect of potentially dilutive non-participating securities outstanding for the period. Additionally, the per share earnings of Viper are included in the consolidated earnings per share computation based on the consolidated group’s holdings of the subsidiaries.

A reconciliation of the components of basic and diluted earnings per common share is presented in the table below:

Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
($ in millions, except per share amounts, shares in thousands)
Net income (loss) attributable to common stock$915 $1,184 $2,183 $3,379 
Less: distributed and undistributed earnings allocated to participating securities(1)
8 12 17 34 
Net income (loss) attributable to common stockholders$907 $1,172 $2,166 $3,345 
Weighted average common shares outstanding:
Basic weighted average common shares outstanding178,872 174,406 180,400 176,169 
Effect of dilutive securities:
Weighted-average potential common shares issuable— 2 — 2 
Diluted weighted average common shares outstanding178,872 174,408 180,400 176,171 
Basic net income (loss) attributable to common stock$5.07 $6.72 $12.01 $18.99 
Diluted net income (loss) attributable to common stock$5.07 $6.72 $12.01 $18.99 
(1)    Unvested restricted stock awards and performance stock awards that contain non-forfeitable distribution equivalent rights are considered participating securities and therefore are included in the earnings per share calculation pursuant to the two-class method.