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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
Basic earnings per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted earnings per share is calculated similarly but includes potential dilution from restricted stock units, crewmember purchases made under the Company's crewmember Stock Purchase Plan, convertible notes, warrants issued under various federal payroll support programs, and any other potentially dilutive instruments using the treasury stock and if-converted methods. There were no anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share amounts for the three months ended September 30, 2022 and 2021. Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share amounts were 1.9 million and 3.5 million for the nine months ended September 30, 2022 and September 30, 2021, respectively.
The following table shows how we computed basic and diluted earnings per common share for the three and nine months ended September 30, 2022 and 2021 (dollars and share data in millions):
Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Net income (loss)$57 $130 $(386)$(53)
Weighted average basic shares323.9 318.0 322.5 317.3 
Effect of dilutive securities1.1 3.3 — — 
Weighted average diluted shares325.0 321.3 322.5 317.3 
Earnings (loss) per common share
Basic$0.18 $0.41 $(1.20)$(0.17)
Diluted$0.18 $0.40 $(1.20)$(0.17)