Earnings Per Share

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share on net income (in millions, except per share information):


	Three months ended March 31,
		2024		2023
Earnings:
Net income (numerator for basic and diluted calculations)		$	212	$	253
Less: Net income attributable to noncontrolling interest		2		1
Net income available to RGA, Inc. shareholders		$	210	$	252
Shares:
Weighted average outstanding shares (denominator for basic calculation)		66		67
Equivalent shares from outstanding stock awards		1		1
Diluted shares (denominator for diluted calculation)		67		68
Earnings per share:
Basic		$	3.20	$	3.77
Diluted		$	3.16	$	3.72

The calculation of common equivalent shares does not include the impact of stock awards with a conversion price that exceeds the average stock price for the earnings period as the result would be antidilutive. The calculation of common equivalent shares also excludes the impact of outstanding performance shares awards as the conditions necessary for their issuance have not been satisfied as of the end of the reporting period.