Earnings per Share (EPS) (Tables)

12 Months Ended

Dec. 31, 2022

Earnings allocation method utilized in the calculation of basic and diluted EPS

The following illustrates the earnings allocation method utilized in the calculation of basic and diluted EPS:


	Year Ended December 31,
	2022		2021		2020
	(In millions, except per share data)
Basic EPS numerator:
Income (loss) from continuing operations, net of income taxes	$	1,317.4	$	347.4	$	(1,859.8)

Less: Net income (loss) attributable to noncontrolling interests	22.0		11.3		(3.5)
Income (loss) from continuing operations attributable to common stockholders	1,295.4		336.1		(1,856.3)


Income (loss) from discontinued operations, net of income taxes	1.7		24.0		(14.0)


Net income (loss) attributable to common stockholders	$	1,297.1	$	360.1	$	(1,870.3)

Diluted EPS numerator:
Income (loss) from continuing operations, net of income taxes	$	1,317.4	$	347.4	$	(1,859.8)
Add: Tax adjusted interest expense related to 2028 Convertible Notes	8.7		—		—

Less: Net income (loss) attributable to noncontrolling interests	22.0		11.3		(3.5)
Income (loss) from continuing operations attributable to common stockholders	1,304.1		336.1		(1,856.3)


Income (loss) from discontinued operations, net of income taxes	1.7		24.0		(14.0)


Net income (loss) attributable to common stockholders	$	1,305.8	$	360.1	$	(1,870.3)

EPS denominator:
Weighted average shares outstanding — basic	142.1		111.1		97.7
Dilutive impact of share-based compensation awards	1.6		0.9		—
Dilutive impact of 2028 Convertible Notes	13.5		—		—
Weighted average shares outstanding — diluted	157.2		112.0		97.7

Basic EPS attributable to common stockholders:
Income (loss) from continuing operations	$	9.12	$	3.03	$	(18.99)
Income (loss) from discontinued operations	0.01		0.21		(0.15)
Net income (loss) attributable to common stockholders	$	9.13	$	3.24	$	(19.14)

Diluted EPS attributable to common stockholders:
Income (loss) from continuing operations	$	8.29	$	3.00	$	(18.99)
Income (loss) from discontinued operations	0.02		0.22		(0.15)
Net income (loss) attributable to common stockholders	$	8.31	$	3.22	$	(19.14)