Earnings (Loss) Per Share Data (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the income and share data used in the basic and diluted earnings per share computations.


Periods ended June 30	Three Months				Six Months
(In millions, except per share data)	2023		2022		2023		2022
Net income (loss) (1)	$	283	$	190	$	580	$	485

Common Stock and Common Stock Equivalents
Basic
Weighted average shares outstanding	271.2		271.7		271.2		271.8
Diluted
Weighted average shares outstanding	271.2		271.7		271.2		271.8
Dilutive effect of stock-based awards under compensation plans	0.8		0.9		0.9		0.9
Total	272.0		272.6		272.1		272.7

Earnings (loss) per share (1)
Basic	$	1.04	$	0.70	$	2.14	$	1.79
Diluted	$	1.04	$	0.69	$	2.13	$	1.78

(1) As of January 1, 2023, the Company adopted ASU 2018-12 using the modified retrospective method applied as of the transition date of January 1, 2021. Prior period amounts have been adjusted to reflect application of the new guidance.