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EARNINGS PER SHARE | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHAREThe numerator for both basic and diluted earnings per share (EPS) is net income (loss) attributable to Baxter stockholders. The denominator for basic EPS is the weighted-average number of shares outstanding during the period. The dilutive effect of outstanding stock options, RSUs and PSUs is reflected in the denominator for diluted EPS using the treasury stock method. The following table is a reconciliation of net income (loss) attributable to Baxter stockholders.
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2023 | 2022 |  | 2023 | 2022
Income (loss) from continuing operations | $ | (193) |  | $ | 185 |  |  | $ | (193) |  | $ | 193 |
Less: Net income attributable to noncontrolling interests | 2 |  | 3 |  |  | 3 |  | 5 |
Income (loss) from continuing operations attributable to Baxter stockholders | (195) |  | 182 |  |  | (196) |  | 188 |
Income from discontinued operations | 54 |  | 70 |  |  | 99 |  | 135 |
Net income (loss) attributable to Baxter stockholders | $ | (141) |  | $ | 252 |  |  | $ | (97) |  | $ | 323 |
The following table is a reconciliation of basic shares to diluted shares.
| Three months ended June 30, |  | Six months ended June 30,
(in millions) | 2023 | 2022 |  | 2023 | 2022
Basic shares | 506 |  | 504 |  |  | 506 |  | 503 |
Effect of dilutive securities | — |  | 4 |  |  | — |  | 5 |
Diluted shares | 506 |  | 508 |  |  | 506 |  | 508 |
Basic and diluted shares are the same for the three and six months ended June 30, 2023 due to our net losses for the period. The effect of dilutive securities for the three and six months ended June 30, 2022 includes unexercised stock options, unvested RSUs and contingently issuable shares related to granted PSUs. Diluted EPS excludes 27 million and 25 million shares issuable under equity awards for the three and six months ended June 30, 2023, respectively, and 12 million and 8 million shares issuable under equity awards for the three and six months ended June 30, 2022, respectively, because their inclusion would have had an anti-dilutive effect on diluted EPS. Refer to Note 7 for additional information regarding items impacting basic and diluted shares.

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