Earnings per Share

12 Months Ended

Dec. 31, 2022

Earnings (Loss) per Share

The Company did not declare any common stock dividends in the periods presented.

The following table sets forth the computation of basic and diluted loss per share of common stock:


	Year Ended December 31,
(in millions, except per share data. Shares in thousands)	2022		2021		2020
Basic Net Earnings (Loss) per Share:
Net Income (Loss)	$	(182)	$	(28)	$	(118)
Dividend - Preferred Stock	(10)		(10)		(10)


Adjusted Net Income (Loss) Available to Common Shareholders - Basic	$	(192)	$	(38)	$	(128)

Diluted Net Earnings (Loss) per Share:
Net Income (Loss)	$	(182)	$	(28)	$	(118)
Dividend - Preferred Stock	(10)		(10)		(10)


Adjusted Net Income (Loss) Available to Common Shareholders - Diluted	$	(192)	$	(38)	$	(128)

Weighted Average Common Shares Outstanding - Basic	215,886		212,719		210,018
Common Shares Issuable with Respect to:
Restricted Stock And Performance Units / Shares	0		0		0

Weighted Average Common Shares Outstanding - Diluted	215,886		212,719		210,018

Net Earnings (Loss) per Share:
Basic	$	(0.89)	$	(0.18)	$	(0.61)
Diluted	$	(0.89)	$	(0.18)	$	(0.61)

The following securities were not included in the computation of diluted earnings per share as they were either contingently issuable shares or shares that if included would have been anti-dilutive (shares in thousands):
Restricted stock and performance shares/units	5,469		8,210		12,286

Convertible preferred stock	5,393		5,393		5,393
Total Anti-Dilutive and Contingently Issuable Securities	10,862		13,603		17,679