Net Earnings Per Share

9 Months Ended

Sep. 30, 2023

Net Earnings Per Share [Abstract]

Net Earnings Per Share

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(13) Net Earnings Per Share:

The reconciliation of the net income per common share calculation is as follows:

	For the three months ended September 30,				For the nine months ended September 30,
($ in millions and shares in thousands, except per share amounts)	2023		2022		2023		2022
Net income used for basic and diluted earnings
per share:
Total basic net income
attributable to Frontier common shareholders	$	11	$	120	$	12	$	286
Effect of loss related to dilutive stock units		-		-		-		-
Total diluted net income
attributable to Frontier common shareholders	$	11	$	120	$	12	$	286
Basic earnings per share:
Total weighted average shares and unvested restricted
stock awards outstanding - basic		245,761		244,984		245,431		244,711
Less: Weighted average unvested restricted stock awards		-		-		-		-
Total weighted average shares outstanding - basic		245,761		244,984		245,431		244,711
Basic net earnings per share
attributable to Frontier common shareholders	$	0.05	$	0.49	$	0.05	$	1.17
Diluted earnings per share:
Total weighted average shares outstanding - basic		245,761		244,984		245,431		244,711
Effect of dilutive performance stock awards		1,686		-		1,493		-
Effect of dilutive restricted stock awards		-		228		412		369
Total weighted average shares outstanding - diluted		247,447		245,212		247,336		245,080
Diluted net earnings per share
attributable to Frontier common shareholders	$	0.05	$	0.49	$	0.05	$	1.17

In calculating diluted net income per common share for the nine months ended September 30, 2023, the effect of certain outstanding PSUs is included in the computation as their respective performance metrics have been satisfied as of September 30, 2023.