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Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Note 10 – 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. The dilutive effect of outstanding awards and convertible securities is reflected in diluted net income (loss) per share by application of the treasury stock method. Since we were in a loss position for the three and six months ended June 30, 2020, basic net loss per share was the same as diluted net loss per share for the periods presented.
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 June 30,Six Months Ended June 30,
2020202120202021
Basic net income (loss) per share:
Numerator
Net income (loss) including non-controlling interests$(1,772)$1,112 $(4,718)$990 
Net income (loss) attributable to non-controlling interests, net of tax3 (32)(7)(46)
          Net income (loss) attributable to common stockholders$(1,775)$1,144 $(4,711)$1,036 
Denominator
Basic weighted-average common stock outstanding1,738,897 1,875,156 1,731,632 1,866,830 
Basic net income (loss) per share attributable to common stockholders (1)
$(1.02)$0.61 $(2.72)$0.56 
Diluted net income (loss) per share:
Numerator
     Net income (loss) attributable to common stockholders$(1,775)$1,144 $(4,711)$1,036 
Net loss attributable to Freight Holding convertible common shares non-controlling interest, net of tax— (10)— (18)
Cumulative dividends to Freight Holding convertible preferred shares non-controlling interest, net of tax— 3 — — 
Interest expense, amortization of debt discount and issuance costs of 2025 Convertible Notes and Careem Notes— 3 — 5 
     Diluted net income (loss) attributable to common stockholders$(1,775)$1,140 $(4,711)$1,023 
Denominator
     Number of shares used in basic net income (loss) per share computation1,738,897 1,875,156 1,731,632 1,866,830 
     Weighted-average effect of potentially dilutive securities:
Stock options— 17,785 — 18,808 
RSUs— 31,485 — 36,651 
Warrants— 87 — 88 
Common shares issued for ESPP— 160 — 192 
Assumed incremental shares to settle forward obligation for Freight Holding Series A unit holders— 1,900 — 2,281 
Assumed redemption of Freight Holding common shares, non-controlling interest— 1,268 — 1,306 
Assumed redemption of Freight Holding preferred shares, non-controlling interest— 6,891 — — 
2025 Convertible Notes— 14,226 — 14,226 
Careem Notes— 7,017 — 9,368 
     Diluted weighted-average common stock outstanding1,738,897 1,955,975 1,731,632 1,949,750 
Diluted net income (loss) per share attributable to common stockholders (1)
$(1.02)$0.58 $(2.72)$0.52 
(1) Per share amounts are calculated using unrounded numbers and therefore may not recalculate.
Effective January 1, 2021, we early adopted ASU 2020-06 using the modified retrospective approach. Upon adoption, we use the if-converted method and presume share settlement for our 2025 Convertible Notes and our non-interest bearing unsecured convertible notes related to the acquisition of Careem (“Careem Notes”) when calculating the dilutive effect of these notes.
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 June 30,Six Months Ended June 30,
2020202120202021
Freight Holding contingently redeemable preferred stock— — — 7,743 
RSUs96,455 18,594 96,455 17,230 
Stock options27,086 249 27,086 15 
Common stock subject to repurchase28 — 28 — 
RSUs to settle fixed monetary awards175 — 175 — 
Shares committed under ESPP2,441 2,719 2,441 2,296 
Warrants to purchase common stock126 — 126 — 
Convertible notes14,181 — 14,181 — 
Total140,492 21,562 140,492 27,284