EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

16. EARNINGS PER SHARE:

The following table reconciles income ("numerator") and shares ("denominator") used in our computations of earnings per share for the years ended December 31, 2023, 2022, and 2021 (in millions, except share amounts which are reflected in thousands):


	2023		2022		2021
Income ("Numerator")
Net (loss) income	$	(279)	$	2,701	$	(326)
Net loss (income) attributable to the redeemable noncontrolling interests	4		(20)		(18)
Net income attributable to the noncontrolling interests	(16)		(29)		(70)
Numerator for basic and diluted earnings per common share available to common shareholders	$	(291)	$	2,652	$	(414)

Shares ("Denominator")
Basic weighted-average common shares outstanding	65,125		70,653		75,050
Dilutive effect of stock settled appreciation rights and outstanding stock options	—		3		—
Diluted weighted-average common and common equivalent shares outstanding	65,125		70,656		75,050

The net earnings per share amounts are the same for Class A and Class B Common Stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.

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.


	2023	2022	2021
Weighted-average stock-settled appreciation rights and outstanding stock options excluded	4,425	3,370	1,973