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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | 10. EARNINGS PER SHARE The following information sets forth the computations of basic and diluted net increase in stockholders’ equity resulting from operations per share for the years ended December 31, 2023, 2022 and 2021:
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Net increase in stockholders’ equity resulting from operations—basic | $ | 1,522 |  |  | $ | 600 |  |  | $ | 1,567 |
Adjustment for interest expense on 2024 Convertible Notes(1) | 17 |  |  | 17 |  |  | — |
Net increase in stockholders’ equity resulting from operations—diluted | $ | 1,539 |  |  | $ | 617 |  |  | $ | 1,567 |
Weighted average shares of common stock outstanding—basic | 554 |  |  | 498 |  |  | 446 |
Assumed conversion of 2024 Convertible Notes | 21 |  |  | 20 |  |  | — |
Weighted average shares of common stock outstanding—diluted | 575 |  |  | 518 |  |  | 446 |
Net increase in stockholders’ equity resulting from operations per share—basic | $ | 2.75 |  |  | $ | 1.21 |  |  | $ | 3.51 |
Net increase in stockholders’ equity resulting from operations per share—diluted | $ | 2.68 |  |  | $ | 1.19 |  |  | $ | 3.51 |
________________________________________ (1) Includes the impact of income based fees. Subsequent to the adoption of ASU 2020-06 on January 1, 2022, for the purpose of calculating diluted net increase in stockholders’ equity resulting from operations per share for the years ended December 31, 2023 and 2022, the Company utilized the if-converted method which assumes full share settlement for the aggregate value of the 2024 Convertible Notes. Under the allowed modified retrospective method, diluted net increase in stockholders’ equity resulting from operations per share for prior period was not restated to reflect the impact of ASU 2020-06. Prior to the adoption of ASU 2020-06, for the purpose of calculating diluted net increase in stockholders’ equity resulting from operations per share, the average closing price of the Company’s common stock for the year ended December 31, 2021 was less than the conversion price for the 2024 Convertible Notes outstanding as of December 31, 2021 and more than the conversion price for any other convertible unsecured notes outstanding as of December 31, 2021. Therefore, the underlying shares for the intrinsic value of the embedded options in the Convertible Unsecured Notes outstanding during the year ended December 31, 2021 had no impact on the computation of diluted net increase in stockholders’ equity resulting from operations per share.

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