
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income (loss)	$	109	$	(4)	$	150	$	20
Net income (loss) attributable to noncontrolling interests	$	(1)	$	(1)	$	2	$	3
Net income (loss) attributable to Hyatt Hotels Corporation	$	110	$	(3)	$	148	$	17
Denominator:
Basic weighted-average shares outstanding	94,302,204		95,584,242		94,391,653		95,781,125
Stock-based compensation	2,393,045		—		2,340,355		1,957,606
Diluted weighted-average shares outstanding	96,695,249		95,584,242		96,732,008		97,738,731
Basic Earnings (Losses) Per Class A and Class B Share:
Net income (loss)	$	1.16	$	(0.04)	$	1.59	$	0.20
Net income (loss) attributable to noncontrolling interests	$	(0.01)	$	(0.01)	$	0.02	$	0.03
Net income (loss) attributable to Hyatt Hotels Corporation	$	1.17	$	(0.03)	$	1.57	$	0.17
Diluted Earnings (Losses) Per Class A and Class B Share:
Net income (loss)	$	1.13	$	(0.04)	$	1.55	$	0.20
Net income (loss) attributable to noncontrolling interests	$	(0.01)	$	(0.01)	$	0.02	$	0.03
Net income (loss) attributable to Hyatt Hotels Corporation	$	1.14	$	(0.03)	$	1.53	$	0.17

The calculations of diluted earnings (losses) per Class A and Class B share do not include the following shares of Class A common stock assumed to be issued as stock-settled SARs, RSUs, and PSUs because they are anti-dilutive: