EARNINGS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2024

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:


	Three Months Ended March 31,
		2024		2023
		(in millions, except per share data)
Weighted-average common shares outstanding:
Weighted-average common shares outstanding — basic		330.2		361.9
Effect of dilutive potential common shares:
Employee share awards (1)		2.5		2.2
Weighted-average common shares outstanding — diluted		332.7		364.1

Net income (loss):
Net income (loss)		$	217	$	266
Less: Net income (loss) attributable to the noncontrolling interest		103		89
Net income (loss) attributable to Holdings		114		177
Less: Preferred stock dividends		14		14
Net income (loss) available to Holdings’ common shareholders		$	100	$	163

Earnings per common share:
Basic		$	0.30	$	0.45
Diluted		$	0.30	$	0.45

______________

(1)Calculated using the treasury stock method.