EARNINGS (LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2021

The following table is a reconciliation of the numerators and denominators of our basic and diluted earnings (loss) per common share calculations for our continuing operations for the years ended December 31, 2021, 2020 and 2019. Net income available (loss attributable) to our common shareholders is expressed in millions and weighted average shares are expressed in thousands.


	Net Income Available (Loss Attributable) to Common Shareholders (Numerator)		Weighted Average Shares (Denominator)	Per-Share Amount
Year Ended December 31, 2021
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share	$	915	106,833	$	8.56
Effect of dilutive stock options, restricted stock units and deferred compensation units	—		1,738	(0.13)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share	$	915	108,571	$	8.43
Year Ended December 31, 2020
Net income available to Tenet Healthcare Corporation common shareholders for basic earnings per share	$	399	105,010	$	3.80
Effect of dilutive stock options, restricted stock units and deferred compensation units	—		1,253	(0.05)
Net income available to Tenet Healthcare Corporation common shareholders for diluted earnings per share	$	399	106,263	$	3.75
Year Ended December 31, 2019
Net loss attributable to Tenet Healthcare Corporation common shareholders for basic loss per share	$	(226)	103,398	$	(2.19)
Effect of dilutive stock options, restricted stock units and deferred compensation units	—		—	—
Net loss attributable to Tenet Healthcare Corporation common shareholders for diluted loss per share	$	(226)	103,398	$	(2.19)

All potentially dilutive securities were excluded from the calculation of diluted loss per share for the year ended December 31, 2019 because we did not report income from continuing operations available to common shareholders in that period. In circumstances where we do not have income from continuing operations available to common shareholders, the effect of stock options and other potentially dilutive securities is anti‑dilutive, that is, a loss from continuing operations attributable to common shareholders has the effect of making the diluted loss per share less than the basic loss per share. Had we generated income from continuing operations available to common shareholders in the year ended December 31, 2019, the effect (in thousands) of employee stock options, RSUs and deferred compensation units on the diluted shares calculation would have been an increase in shares of 1,457 for the year ended December 31, 2019.