Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Note 17: Earnings per Common Share

Presented in the table below is a reconciliation of the numerator and denominator for the basic and diluted earnings per share (“EPS”) calculations for the years ended December 31:


	2023		2022		2021
Numerator:
Net income attributable to common shareholders	$	944	$	820	$	1,263

Denominator:
Weighted average common shares outstanding—Basic	193		182		182
Effect of dilutive common stock equivalents	—		—		—
Weighted average common shares outstanding—Diluted	193		182		182

The effect of dilutive common stock equivalents is related to outstanding stock options, RSUs and PSUs granted under the Company’s 2007 Plan and outstanding RSUs and PSUs granted under the Company’s 2017 Omnibus Plan, as well as estimated shares to be purchased under the ESPP. Less than one million share-based awards were excluded from the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021, because their effect would have been anti-dilutive under the treasury stock method.

The if-converted method is applied to the Notes issued in June 2023 for computing diluted EPS. For all periods presented, there was no dilution resulting from the Notes. See Note 11—Long-Term Debt for additional information relating to the Notes.