Earnings (Loss) Per Share ("EPS")

12 Months Ended

Dec. 31, 2021

16. Earnings (Loss) Per Share (“EPS”)

Basic EPS is based on net income (loss) attributable to the Company’s earnings and is calculated based upon the daily weighted-average number of common shares outstanding during the periods presented. Also, this calculation includes fully vested stock and unit awards that have not yet been issued as common stock. Diluted EPS includes the above, plus unvested stock, unit or option awards granted and vested unexercised stock options, but only to the extent these instruments dilute earnings (loss) per share.

For the year ended December 31, 2021, 2020 and 2019, a total of approximately 4 million, 6 million and 8 million, respectively, of potentially dilutive shares were excluded from the computation of diluted earnings per share due to their antidilutive effect or due to the Company recognizing a net loss for the period.

Basic and diluted EPS are as follows (in millions, except share data):


	Year Ended December 31,
	2021		2020			2019
Numerator:
Net income (loss) attributable to the Company's stockholders	$	5	$	(427	)	$	(97	)
Denominator:
Weighted average basic common shares outstanding		110,403,853		109,406,079			108,779,891
Effect of dilutive securities		91,088		—			—
Weighted average diluted common shares outstanding		110,494,941		109,406,079			108,779,891
Earnings (loss) per share attributable to the Company's stockholders:
Basic	$	0.05	$	(3.91	)	$	(0.89	)
Diluted	$	0.05	$	(3.91	)	$	(0.89	)

Under ASC Topic 260, “Earnings Per Share,” the two-class method requires a portion of net income attributable to the 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 loss is not allocated to nonvested awards in periods the Company determines that those shares are not obligated to participate in losses. For the periods that the Company recognized net income, net income attributable to the Company allocated to these participating securities was excluded from net income attributable to the Company’s stockholders in the numerator of the earnings per share computation.