EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHARE

The computation of basic and diluted earnings per common share was as follows (in millions, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Amounts attributable to Quest Diagnostics’ common stockholders:




Net income attributable to Quest Diagnostics	$	256	$	505	$	845	$	1,605
Less: Earnings allocated to participating securities	2		2		4		6
Earnings available to Quest Diagnostics’ common stockholders – basic and diluted	$	254	$	503	$	841	$	1,599

Weighted average common shares outstanding – basic	116		123		117		127
Effect of dilutive securities:
Stock options and performance share units	2		2		2		2
Weighted average common shares outstanding – diluted	118		125		119		129

Earnings per share attributable to Quest Diagnostics’ common stockholders:
Basic	$	2.20	$	4.11	$	7.17	$	12.63




Diluted	$	2.17	$	4.02	$	7.05	$	12.41

The following securities were not included in the calculation of diluted earnings per share due to their antidilutive effect:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options and performance share units	1	—	—	—

The sum of basic and diluted earnings per share attributable to Quest Diagnostics' common stockholders for the first three quarters of 2021 did not equal the total for the nine months ended September 30, 2021 due to both quarterly fluctuations in the Company's earnings and in the weighted average common shares outstanding throughout the period as a result of the impact of share repurchases (see Note 9 for further details regarding the Company's share repurchases).