EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

EARNINGS PER SHARE:

The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in millions, except share amounts which are reflected in thousands):


	Three Months Ended March 31,
	2023		2022
Income (Numerator)
Net income	$	193	$	2,616
Net loss (income) attributable to the redeemable noncontrolling interests	4		(4)
Net income attributable to the noncontrolling interests	(12)		(25)

Numerator for basic and diluted earnings per common share available to common shareholders	$	185	$	2,587

Shares (Denominator)
Basic weighted-average common shares outstanding	69,744		72,164
Dilutive effect of stock-settled appreciation rights and outstanding stock options	120		12
Diluted weighted-average common and common equivalent shares outstanding	69,864		72,176

The following table shows the weighted-average stock-settled appreciation rights and outstanding stock options (in thousands) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive:


	Three Months Ended March 31,
	2023	2022
Weighted-average stock-settled appreciation rights and outstanding stock options excluded	3,645	2,545