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Net Income (Loss) Attributable to Company Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) Attributable to Company Per Share
13.
Net Income (Loss) Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Company

$

32

 

 

$

(69

)

 

$

51

 

 

$

(210

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Basic—weighted average common shares outstanding

 

391

 

 

 

387

 

 

 

389

 

 

 

386

 

Dilutive effect of employee stock options and other
unvested stock awards

 

2

 

 

 

—

 

 

 

4

 

 

 

—

 

Diluted outstanding shares

 

393

 

 

 

387

 

 

 

393

 

 

 

386

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Company per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.08

 

 

$

(0.18

)

 

$

0.13

 

 

$

(0.54

)

Diluted

$

0.08

 

 

$

(0.18

)

 

$

0.13

 

 

$

(0.54

)

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends per share

$

0.05

 

 

$

—

 

 

$

0.15

 

 

$

—

 

 

Companies with unvested participating securities are required to utilize a two-class method for the computation of net income attributable to Company per share. The two-class method requires a portion of net income attributable to Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents if declared. Net income (loss) attributable to the Company allocated to these participating securities was immaterial for each of the three and nine months ended September 30, 2022 and 2021, respectively.

The Company had stock options outstanding that were anti-dilutive totaling 22 million and 20 million shares for the three and nine months ended September 30, 2022, respectively, compared to 23 million and 21 million shares for the three and nine months ended September 30, 2021, respectively.