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EARNINGS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
The following table presents a reconciliation of Net income (loss) and Weighted-average common shares used in calculating basic and diluted Earnings per common share for the periods indicated:
 
Three Months Ended March 31,
 
20232022
(in millions, except per share data)
Weighted-average common shares outstanding:
Weighted-average common shares outstanding — basic
361.9 388.6 
Effect of dilutive potential common shares:
Employee share awards (1)2.2 3.1 
Weighted-average common shares outstanding — diluted
364.1 391.7 
Net income (loss):
Net income (loss)$266 $597 
Less: Net income (loss) attributable to the noncontrolling interest89 67 
Net income (loss) attributable to Holdings177 530 
Less: Preferred stock dividends14 14 
Net income (loss) available to Holdings’ common shareholders$163 $516 
Earnings per common share:
Basic$0.45 $1.33 
Diluted$0.45 $1.32 
_____________
(1)Calculated using the treasury stock method.

For the three months ended March 31, 2023 and 2022, 2.5 million and 3.3 million of outstanding stock awards, respectively, were not included in the computation of diluted earnings per share because their effect was anti-dilutive.