EARNINGS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Earnings Per Share, Basic and Diluted

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,
	2023		2022
	(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 interest	89		67
Net income (loss) attributable to Holdings	177		530
Less: Preferred stock dividends	14		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

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(1)Calculated using the treasury stock method.