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 or 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 June 30,				Six Months Ended June 30,
	2021		2022		2021		2022
Basic net income (loss) per share:
Numerator
Net income (loss) including non-controlling interests	$	1,112	$	(2,616)	$	990	$	(8,534)
Net loss attributable to non-controlling interests, net of tax	(32)		(15)		(46)		(4)
Net income (loss) attributable to common stockholders	$	1,144	$	(2,601)	$	1,036	$	(8,530)
Denominator
Basic weighted-average common stock outstanding	1,875,156		1,964,304		1,866,830		1,957,127
Basic net income (loss) per share attributable to common stockholders (1)	$	0.61	$	(1.32)	$	0.56	$	(4.36)
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders	$	1,144	$	(2,601)	$	1,036	$	(8,530)
Net loss attributable to Freight Holding convertible common shares non-controlling interest, net of tax	(10)		(12)		(18)		(39)

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	$	1,140	$	(2,613)	$	1,023	$	(8,569)
Denominator
Number of shares used in basic net income (loss) per share computation	1,875,156		1,964,304		1,866,830		1,957,127
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 convertible common shares, non-controlling interest	1,268		4,578		1,306		3,744
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 outstanding	1,955,975		1,968,882		1,949,750		1,960,871
Diluted net income (loss) per share attributable to common stockholders (1)	$	0.58	$	(1.33)	$	0.52	$	(4.37)

(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):