Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation from Basic to Diluted Shares

The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS.

	Three Months Ended
	March 31,
(in millions)	2022	2021
Weighted average shares for basic EPS	649	622
Dilutive effect of shares issuable under stock-based compensation plans	2	8
Assumed conversion of Mandatory Convertible     Preferred Stock	—	1
Weighted average shares for diluted EPS	651	631

Schedule of Earnings Per Share, Basic and Diluted

The table below presents a reconciliation of net earnings from continuing operations and net earnings to the amounts used in the calculations of basic and diluted EPS.

	Three Months Ended
	March 31, 2022
Amounts attributable to Paramount:
Net earnings from continuing operations		$	391
Preferred stock dividends		(14)
Net earnings from continuing operations for basic and diluted     EPS calculation		$	377
Amounts attributable to Paramount:
Net earnings		$	433
Preferred stock dividends		(14)
Net earnings for basic and diluted EPS calculation		$	419