Net Income per Basic Share is computed based on the weighted-average number of common shares outstanding. Net Income per Diluted Share includes the weighted-average effect of dilutive restricted share units, performance share units and stock options (collectively, “Dilutive Awards”) on the weighted-average common shares outstanding.

The following table provides the weighted-average shares utilized for the calculation of Net Income per Basic and Diluted Share for the third quarters of and year-to-date 2023 and 2022:


	Third Quarter		Year-to-Date
	2023	2022	2023	2022
	(in millions)

Common Shares	242	243	243	248
Treasury Shares	(15)	(15)	(15)	(15)
Basic Shares	227	228	228	233
Effect of Dilutive Awards	1	1	1	2
Diluted Shares	228	229	229	235
Anti-dilutive Awards (a)	—	1	1	1

_______________

(a)These awards were excluded from the calculation of Net Income per Diluted Share because their inclusion would have been anti-dilutive.

In February 2022, the Company’s Board of Directors authorized a $1.5 billion share repurchase program (the “February 2022 Program”). Under the February 2022 Program, the Company repurchased the following shares of its common stock during year-to-date 2023:


Repurchase Program	Amount Authorized		Shares Repurchased	Amount Repurchased		Average Stock Price
	(in millions)		(in thousands)	(in millions)
February 2022	$	1,500	2,765	$	100	$	36.16

The February 2022 Program had $88 million of remaining authority as of October 28, 2023. There were share repurchases of $1 million reflected in Accounts Payable on the October 28, 2023 Consolidated Balance Sheet. Subsequent to October 28, 2023 through December 1, 2023, the Company repurchased an additional 569 thousand shares of its common stock for $17 million under the February 2022 Program.

Shares of common stock repurchased under the February 2022 Program are retired and cancelled upon repurchase. As a result, the Company retired the 2,765 thousand shares repurchased under the February 2022 Program during year-to-date 2023, which resulted in reductions of $2 million in the par value of Common Stock, $8 million in Paid-in Capital and $90 million in Retained Earnings (Accumulated Deficit).


	Ordinary Dividends		Total Paid
	(per share)		(in millions)
2023
First Quarter	$	0.20	$	46
Second Quarter	0.20		46
Third Quarter	0.20		45
Total	$	0.60	$	137
2022
First Quarter	$	0.20	$	48
Second Quarter	0.20		46
Third Quarter	0.20		46
Total	$	0.60	$	140

In November 2023, the Company declared the fourth quarter 2023 ordinary dividend of $0.20 per share payable on December 1, 2023 to stockholders of record at the close of business on November 17, 2023.