Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2
Net Income (Loss) Per Share Attributable to Common Stockholders (Tables)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table reconciles basic and diluted weighted average common shares outstanding and common stock dividends declared (in millions, except per share data):
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
Net income (loss) attributable to common stockholders $ 741  $ (329) $ (124) $ 64 
Weighted average common shares outstanding:    
Basic 253.6  253.5  253.8  253.2 
Dilutive unvested stock 2.3  —  —  1.5 
Diluted 255.9  253.5  253.8  254.7 
Net income (loss) per share attributable to common stockholders—basic
 $ 2.92  $ (1.30) $ (0.49) $ 0.25 
Net income (loss) per share attributable to common stockholders—diluted
 $ 2.90  $ (1.30) $ (0.49) $ 0.25 
Dividends paid per common share $ 0.33  $ —  $ 0.66  $ — 
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):
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
Unvested stock (1) —  1.5  2.1  — 
2045 Cheniere Convertible Senior Notes (2) —  4.5  0.3  4.5 
Total potentially dilutive common shares —  6.0  2.4  4.5 
(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 2022 period. See Note 1—Nature of Operations and Basis of Presentation for further discussion of our adoption of ASU 2020-06.