EARNINGS PER SHARE

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Income (Numerator)
Net (loss) income	$	(87)	$	(6)	$	106	$	2,610
Net (income) loss attributable to the redeemable noncontrolling interests	—		(5)		4		(9)
Net income attributable to the noncontrolling interests	(2)		—		(14)		(25)

Numerator for basic and diluted earnings per common share available to common shareholders	$	(89)	$	(11)	$	96	$	2,576

Shares (Denominator)
Basic weighted-average common shares outstanding	64,012		70,897		66,862		71,527
Dilutive effect of stock-settled appreciation rights and outstanding stock options	—		—		85		6
Diluted weighted-average common and common equivalent shares outstanding	64,012		70,897		66,947		71,533

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 June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Weighted-average stock-settled appreciation rights and outstanding stock options excluded	3,693	3,645	3,645	3,095