Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

The following table presents the computation of earnings per share for the three and nine months ended September 30, 2022 and 2021:


	For the three months ended September 30,				For the nine months ended September 30,
(in millions, except share/per share amounts)	2022		2021		2022		2021
Net income (loss)	$	450	$	(1,857)	$	(1,052)	$	(2,386)

Number of common shares:
Weighted average outstanding	1,110,259,907		787,032,414		1,113,705,502		713,455,662
Issued upon assumed exercise of outstanding stock options	—		—		—		—
Effect of issuance of non-vested restricted common stock	796,253		—		—		—
Effect of issuance of non-vested restricted units	1,466,701		—		—		—
Effect of issuance of non-vested performance units	—		—		—		—
Weighted average and potential dilutive outstanding	1,112,522,861		787,032,414		1,113,705,502		713,455,662

Earnings (loss) per common share
Basic	$	0.41	$	(2.36)	$	(0.94)	$	(3.34)
Diluted	$	0.40	$	(2.36)	$	(0.94)	$	(3.34)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the common stock shares equivalent excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2022 and 2021, as they would have had an antidilutive effect:


	For the three months ended September 30,		For the nine months ended September 30,
	2022	2021	2022	2021
Unexercised stock options	1,961,128	3,699,448	2,467,127	3,742,486
Unvested restricted common stock	—	762,945	810,025	827,279
Restricted units	790,182	3,434,189	1,503,049	3,509,603
Performance units	—	2,251,254	474,093	2,196,073
Total	2,751,310	10,147,836	5,254,294	10,275,441