Annual report pursuant to Section 13 and 15(d)

Net Income (Loss) Per Share Attributable to Common Stockholders (Tables)

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Net Income (Loss) Per Share Attributable to Common Stockholders (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table reconciles basic and diluted weighted average common shares outstanding for the years ended December 31, 2021, 2020 and 2019 (in millions, except per share data):
Year Ended December 31,
2021 2020 2019
Net income (loss) attributable to common stockholders $ (2,343) $ (85) 648
Weighted average common shares outstanding:
Basic 253.4  252.4  256.2 
Dilutive unvested stock —  —  1.9 
Diluted 253.4  252.4  258.1 
Net income (loss) per share attributable to common stockholders—basic $ (9.25) $ (0.34) $ 2.53 
Net income (loss) per share attributable to common stockholders—diluted $ (9.25) $ (0.34) $ 2.51 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
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):
Year Ended December 31,
2021 2020 2019
Unvested stock (1) 1.8  3.4  2.3 
Convertible notes
2021 Cheniere Convertible Unsecured Notes (2) —  —  13.7 
11% Convertible Senior Secured Notes due 2025 (“2025 CCH HoldCo II Convertible Senior Notes”) (3) —  —  25.5 
2045 Cheniere Convertible Senior Notes (4) —  4.5  4.5 
Total potentially dilutive common shares 1.8  7.9  46.0 
(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)In the second quarter of 2021, we repaid the remaining principal amount of the 2021 Cheniere Convertible Unsecured Notes in cash; therefore, the 2021 Cheniere Convertible Unsecured Notes were not included in the computation of net income per share for the year ended December 31, 2021. Additionally, since we had the intent and ability to settle the remaining outstanding principal amount of the 2021 Cheniere Convertible Unsecured Notes in cash and the excess conversion premium (the “conversion spread”) in either cash or shares, the treasury stock method was applied for calculating any potential dilutive effect of the conversion spread on net income per share for the year ended December 31, 2020. However, since the average market price of our common stock did not exceed the conversion price of our 2021 Cheniere Convertible Unsecured Notes, the conversion spread was excluded from the computation of diluted net income per share for the year ended December 31, 2020.
(3)In the third quarter of 2020, we redeemed the remaining principal amount of the 2025 CCH HoldCo II Convertible Senior Notes and the related premium in cash; therefore, the 2025 CCH HoldCo II Convertible Senior Notes were not included in the computation of net income per share for the year ended December 31, 2021 and 2020.
(4)Since we had the intent and ability to settle the outstanding principal amount of the 2045 Cheniere Convertible Senior Notes in cash and the conversion spread in either cash or shares, the treasury stock method was applied for calculating any potential dilutive effect of the conversion spread on net income per share for the year ended December 31, 2021. However, since the average market price of our common stock did not exceed the conversion price for our 2045 Cheniere Convertible Senior Notes, the conversion spread was excluded from the computation of diluted net income per share for the year ended December 31, 2021.