EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

Basic EPS is computed based on the weighted average shares of common stock outstanding during the period. Diluted EPS is computed based on those shares used in the basic EPS computation, plus potentially dilutive shares issuable under our equity-based compensation plans using the treasury stock method. Shares that are potentially anti-dilutive are excluded.

The following table presents the computation of our basic and diluted EPS attributable to our common stock:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions, except per share data)	2023		2022		2023		2022
Net income	$	94	$	77	$	308	$	307
Weighted average shares of common stock outstanding	57		62		59		63
Basic EPS	$	1.65	$	1.23	$	5.23	$	4.85
Net income	$	94	$	77	$	308	$	307
Weighted average shares of common stock outstanding	57		62		59		63
Dilutive effect of stock options and restricted stock units	1		1		—		1
Weighted average shares of common stock outstanding	58		63		59		64
Diluted EPS	$	1.63	$	1.22	$	5.20	$	4.81

Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect	—		1		1		1