Net Income (Loss) Per Share

Note 7 – Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the periods presented. Diluted net income (loss) per share is computed by giving effect to all potential weighted average dilutive common stock. For diluted net income (loss) per share, the dilutive effect of outstanding awards is reflected by application of the treasury stock method and convertible securities by application of the if-converted method, as applicable.

We take into account the effect on consolidated net income (loss) per share of dilutive securities of entities in which we hold equity interests that are accounted for using the equity method.

The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in millions, except share amounts which are reflected in thousands, and per share amounts):


	Three Months Ended March 31,
	2024		2025
Basic net income (loss) per share:
Numerator
Net income (loss) including non-controlling interests	$	(663)	$	1,774
Net loss attributable to non-controlling interests, net of tax	(9)		(2)
Net income (loss) attributable to common stockholders	$	(654)	$	1,776
Denominator
Basic weighted-average common stock outstanding	2,078,467		2,092,464
Basic net income (loss) per share attributable to common stockholders (1)	$	(0.31)	$	0.85
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders	$	(654)	$	1,776
Assumed net loss attributable to Freight Holding contingently issuable shares	(16)		(13)


Diluted net income (loss) attributable to common stockholders	$	(670)	$	1,763
Denominator
Number of shares used in basic net income (loss) per share computation	2,078,467		2,092,464
Dilutive effect of equity awards	—		27,006
Dilutive effect of Freight Holding contingently issuable shares	1,701		827
Dilutive effect of other contingently issuable shares	—		2,321
Diluted weighted-average common stock outstanding	2,080,168		2,122,618
Diluted net income (loss) per share attributable to common stockholders (1)	$	(0.32)	$	0.83

(1) Per share amounts are calculated using unrounded numbers and therefore may not recalculate.

The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):


	Three Months Ended March 31,
	2024	2025
Equity awards	110,238	45,364
Freight Holding contingently issuable shares	10,594	—
Other contingently issuable shares	2,321	—
Total	123,153	45,364