| Schedule of Basic and Diluted Net Income (Loss) Per Share of Common Stock |
The following presents basic and diluted net income (loss) per share of common stock computed using the two-class method:
| | | | | | | | | | | | | | | | | | | | | | | | | | | Basic and Diluted | | | | Years ended December 31, | | (In millions, except share and per share amounts) | | | | | 2023 | | 2022 | | 2021 | | Numerator: | | | | | | | | | | | Net income (loss) attributable to common stockholders | | | | | $ | 5,001 | | | $ | (1,961) | | | $ | 1,802 | | Dividends declared on common stock1 | | | | | (961) | | | (916) | | | (501) | | Dividends on participating securities2 | | | | | (51) | | | (46) | | | (17) | | Earnings allocable to participating securities3 | | | | | (115) | | | — | | | (55) | | | Undistributed income (loss) attributable to common stockholders: Basic | | | | | 3,874 | | | (2,923) | | | 1,229 | | | Dilution effect on distributable income attributable to Mandatory Convertible Preferred Stock | | | | | 46 | | | — | | | — | | | Dilution effect on distributable income attributable to contingent shares | | | | | (5) | | | — | | | — | | | Undistributed income (loss) attributable to common stockholders: Diluted | | | | | $ | 3,915 | | | $ | (2,923) | | | $ | 1,229 | | | Denominator: | | | | | | | | | | | Weighted average number of shares of common stock outstanding: Basic | | | | | 581,380,268 | | | 584,691,775 | | | 236,567,691 | | | Dilution effect of Mandatory Convertible Preferred Stock | | | | | 6,440,346 | | | — | | | — | | | Dilution effect of options | | | | | 994,172 | | | — | | | — | | | Dilution effect of contingent shares | | | | | 31,661 | | | — | | | — | | | Weighted average number of shares of common stock outstanding: Diluted | | | | | 588,846,447 | | | 584,691,775 | | | 236,567,691 | | Net income (loss) per share of common stock: Basic4 | | | | | | | | | | | Distributed income | | | | | $ | 1.69 | | | $ | 1.60 | | | $ | 2.10 | | | Undistributed income (loss) | | | | | 6.63 | | | (5.03) | | | 5.22 | | | Net income (loss) per share of common stock: Basic | | | | | $ | 8.32 | | | $ | (3.43) | | | $ | 7.32 | | | Net Income (loss) per share of common stock: Diluted | | | | | | | | | | | Distributed income | | | | | $ | 1.69 | | | $ | 1.60 | | | $ | 2.10 | | | Undistributed income (loss) | | | | | 6.59 | | | (5.03) | | | 5.22 | | | Net Income (loss) per share of common stock: Diluted | | | | | $ | 8.28 | | | $ | (3.43) | | | $ | 7.32 | | | | | | | 1 See note 17 for information regarding quarterly dividends. | 2 Participating securities consist of vested and unvested RSUs that have rights to dividends and unvested restricted shares. | 3 No allocation of undistributed losses was made to the participating securities in 2022 as the holders do not have a contractual obligation to share in the losses of the Company with common stockholders. | 4 For the years ended December 31, 2022 and 2021, all of the classes of securities were determined to be anti-dilutive. | |
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| Schedule of Anti-dilutive Securities |
The following table summarizes the anti-dilutive securities:
| | | | | | | | | | | | | | | | | | | | | | | | | Years ended December 31, | | | | | | 2023 | | 2022 | | 2021 | Weighted average vested RSUs | | | | | — | | | — | | | 1,725,294 | | | Weighted average unvested RSUs | | | | | 15,316,350 | | | 13,664,334 | | | 7,783,549 | | | Weighted average unexercised options | | | | | — | | | 2,422,343 | | | — | | | Weighted average unexercised warrants | | | | | 4,761,918 | | | 2,279,452 | | | — | | | | | | | | | | | | | Weighted average AOG Units outstanding | | | | | — | | | — | | | 166,601,194 | | | Weighted average unvested restricted shares | | | | | 1,688,421 | | | 2,114,622 | | | 927,991 | | | Weighted average contingent shares outstanding | | | | | — | | | 190,468 | | | — | |
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