The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the periods indicated (in millions, except per share amounts):


	Three Months Ended March 31,
		2022		2023
Net income (loss)		$	(19)	$	117
Add: convertible notes interest expense, net of tax		—		1
Net income (loss) - diluted		$	(19)	$	118
Weighted-average shares in computing net income (loss) per share attributable to Class A and Class B common stockholders:
Basic		635		634
Effect of dilutive securities		—		36
Diluted		635		670
Net income (loss) per share attributable to Class A and Class B common stockholders:
Basic		$	(0.03)	$	0.18
Diluted		$	(0.03)	$	0.18

As of both March 31, 2022 and 2023, RSUs to be settled in 9.6 million shares of Class A common stock were excluded from the table below because they are subject to market conditions that were not achieved as of such date. As of March 31, 2022 and 2023, 0.5 million and 0.3 million shares of RSAs were excluded from the table below because they are subject to performance conditions that were not achieved as of such date.

Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in millions):


	Three Months Ended March 31,
	2022	2023
2026 Notes(1)		11	—
Warrants		8	—

Stock options		24	1
RSUs		28	8




Total		71	9

(1)Holders of the 2026 Notes who convert their 2026 Notes in connection with certain corporate events that constitute a make-whole fundamental change are entitled to an increase in the conversion rate. The 11.1 million shares represents the maximum number of shares that could have been issued upon conversion after considering the make-whole fundamental change adjustment on an unweighted basis.

The Company’s board of directors approved a share repurchase program with authorization to purchase up to $2.0 billion of the Company's Class A common stock at management’s discretion.

During the three months ended March 31, 2023, the Company repurchased and subsequently retired 4.0 million shares of common stock for $492.7 million. As of March 31, 2023, the Company had $7.3 million available to repurchase shares pursuant to the share repurchase program.