The following table sets forth the computation of basic and diluted earnings (loss) per share (“EPS”) (shares in millions):


		Three Months Ended September 30,				Nine Months Ended September 30,
		2025		2024		2025		2024
Net income (loss) attributable to Avis Budget Group, Inc. for basic and diluted EPS		$	359	$	237	$	(142)	$	137

Basic weighted average shares outstanding		35.2		35.5		35.2		35.6
Non-vested stock (a)		0.3		0.2		—		0.2
Diluted weighted average shares outstanding (b)		35.5		35.7		35.2		35.8

Earnings (loss) per share
	Basic	$	10.22	$	6.67	$	(4.02)	$	3.86
	Diluted (c)	$	10.11	$	6.65	$	(4.02)	$	3.84

(a)For the three months ended September 30, 2025 and 2024, an immaterial amount and 0.2 million non-vested stock awards, respectively, have an anti-dilutive effect and therefore are excluded from the computation of diluted weighted average shares outstanding. For the nine months ended September 30, 2024, 0.2 million non-vested stock awards have an anti-dilutive effect and therefore have been excluded from the computation of diluted weighted average shares outstanding.

(b)For the nine months ended September 30, 2025, our number of diluted weighted average shares outstanding excludes the effect of non-vested stock as the effect would have been anti-dilutive. This occurs when a net loss is reported and the effect of using dilutive shares would be anti-dilutive. For the nine months ended September 30, 2025, 0.2 million non-vested stock awards have an anti-dilutive effect and therefore have been excluded from the computation of diluted weighted average shares outstanding.