Net Income Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME PER SHARE

The following table sets forth the computation of basic and diluted net income per share (in millions, except per share amounts). Basic net income per share is calculated by dividing net income by the weighted average of shares outstanding during the period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the three and six months ended June 30, 2024 and 2023, an immaterial number of shares related to the Company's restricted stock units and stock warrants, were excluded from the denominator because inclusion of such shares would be antidilutive. The Company paid $6 million during June 2024 to repurchase and cancel its outstanding stock warrants, previously issued in connection with the Payroll Support Program.

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
NUMERATOR:
Net income	$	367	$	683	$	137	$	524
Add: Interest expense	5		5		9		10
Net income attributable to common stockholders	$	372	$	688	$	146	$	534
DENOMINATOR:
Weighted-average shares outstanding, basic	599		595		598		595
Dilutive effects of Convertible Notes	43		42		43		42
Dilutive effect of restricted stock units	1		2		2		2
Adjusted weighted-average shares outstanding, diluted	643		639		643		639
NET INCOME PER SHARE:
Basic	$	0.61	$	1.15	$	0.23	$	0.88
Diluted	$	0.58	$	1.08	$	0.23	$	0.84