Wyndham Hotels & Resorts, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

6 Months Ended

Jun. 30, 2021


4. EARNINGS PER SHARE

The computation of basic and diluted earnings/(loss) per share (“EPS”) is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively.

The following table sets forth the computation of basic and diluted EPS (in millions, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net income/(loss)	$	68	$	(174)	$	93	$	(152)

Basic weighted average shares outstanding	93.6		93.3		93.5		93.5
Stock options and restricted stock units (“RSUs”) (a)	0.5		—		0.4		—
Diluted weighted average shares outstanding	94.1		93.3		93.9		93.5

Earnings/(loss) per share:
Basic	$	0.73	$	(1.86)	$	0.99	$	(1.63)
Diluted	0.73		(1.86)		0.99		(1.63)

Dividends:
Cash dividends declared per share	$	0.16	$	0.08	$	0.32	$	0.40
Aggregate dividends paid to shareholders	$	15	$	8	$	30	$	38

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(a) Due to the anti-dilutive effect resulting from the reported net loss for the three and six months ended June 30, 2020, 0.1 million of anti-dilutive shares were omitted from the calculation of weighted average shares outstanding for those periods.

Stock repurchase program

The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data):


	Shares	Cost		Average Price Per Share
As of December 31, 2020	7.7	$	408	$	53.43
For the six months ended June 30, 2021	—	—		—
As of June 30, 2021	7.7	$	408	$	53.43

The Company had $191 million of remaining availability under its program as of June 30, 2021.