Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share Attributable to Common Stockholders

v3.22.1
Net Income (Loss) Per Share Attributable to Common Stockholders
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Attributable to Common Stockholders NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
The following table reconciles basic and diluted weighted average common shares outstanding (in millions, except per share data):
Three Months Ended March 31,
2022 2021
Net income (loss) attributable to common stockholders $ (865) $ 393 
Weighted average common shares outstanding:
Basic 254.0  252.9 
Dilutive unvested stock —  1.5 
Dilutive convertible securities —  4.5 
Diluted 254.0  258.9 
Net income (loss) per share attributable to common stockholders—basic (1)
 $ (3.41) $ 1.56 
Net income (loss) per share attributable to common stockholders—diluted (1)
 $ (3.41) $ 1.54 
(1)Earnings per share in the table may not recalculate exactly due to rounding because it is calculated based on whole numbers, not the rounded numbers presented.

Potentially dilutive securities that were not included in the diluted net income (loss) per share computations because their effects would have been anti-dilutive were as follows (in millions):
Three Months Ended March 31,
2022 2021
Unvested stock (1) 2.0  1.9 
2045 Cheniere Convertible Senior Notes (2) 0.3  — 
Total potentially dilutive common shares 2.3  1.9 
(1)Includes the impact of unvested shares containing performance conditions to the extent that the underlying performance conditions are satisfied based on actual results as of the respective dates.
(2)As described in Note 9—Debt, the 2045 Cheniere Convertible Senior Notes were redeemed or converted in cash on January 5, 2022. However, the adoption of ASU 2020-06 on January 1, 2022 required a presumption of share settlement for the purpose of calculating the impact to diluted earnings per share during the period the notes were outstanding in 2022. Such impact was anti-dilutive as a result of the reported net loss attributable to common shareholders during the period. See Note 1—Nature of Operations and Basis of Presentation for further discussion of our adoption of ASU 2020-06.