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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Reconciliation of Weighted Average Number of Shares of Common Stock Outstanding

Below is a reconciliation of the weighted average number of shares of common stock outstanding in calculating Diluted EPS (shares in thousands and dollars in millions, except per share amounts) for the periods presented:

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (1)

 

$

25

 

 

$

1

 

 

$

22

 

 

$

(119

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used to compute Basic EPS

 

 

140,219

 

 

 

137,789

 

 

 

139,668

 

 

 

136,870

 

Weighted average effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

1

 

 

 

130

 

 

 

5

 

 

 

—

 

RSUs/MSUs

 

 

854

 

 

 

1,892

 

 

 

1,204

 

 

 

—

 

2026 Senior Notes (Note 7)

 

 

4,674

 

 

 

4,674

 

 

 

3,116

 

 

 

—

 

Weighted average shares used to compute Diluted EPS

 

 

145,748

 

 

 

144,485

 

 

 

143,993

 

 

 

136,870

 

Basic EPS

 

$

0.18

 

 

$

0.01

 

 

$

0.16

 

 

$

(0.87

)

Diluted EPS

 

$

0.17

 

 

$

0.01

 

 

$

0.15

 

 

$

(0.87

)
(1)
Interest expense, net of taxes, related to the 2026 Senior Notes which was included in the Diluted EPS calculation for the three months ended September 30, 2022 and 2021, and for the nine months ended September 30, 2022, respectively, was not material.