Earnings per share

6 Months Ended

Jun. 30, 2021


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars, except share and per share data)	2021		2020		2021		2020
Numerator:
Net income (loss)	$	2,265	$	(331)	$	4,565	$	(79)
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	445,094,678		451,402,807		447,802,079		451,635,733
Denominator for diluted earnings per share:
Share-based compensation plans (1)	2,857,242		—		2,900,440		—
Weighted-average shares outstanding and assumed conversions	447,951,920		451,402,807		450,702,519		451,635,733
Basic earnings (loss) per share	$	5.09	$	(0.73)	$	10.20	$	(0.17)
Diluted earnings (loss) per share	$	5.06	$	(0.73)	$	10.13	$	(0.17)
Potential anti-dilutive share conversions	1,777,555		8,378,447		1,879,882		6,583,319

(1)For the three and six months ended June 30, 2020, weighted-average shares outstanding used in calculating diluted loss per share excludes the effect of dilutive securities of 1,395,951 and 2,044,144 shares, respectively. In periods where a net loss is recognized, inclusion of incremental dilution is anti-dilutive.

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods.