Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted EPS
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,
2022 2021 2022 2021
Net income $ 92  $ 68  $ 198  $ 93 
Basic weighted average shares outstanding 91.6 93.6 92.0 93.5
Stock options and restricted stock units (“RSUs”) 0.5 0.5 0.7 0.4
Diluted weighted average shares outstanding
92.1 94.1 92.7 93.9
Earnings per share:
Basic
 $ 1.00  $ 0.73  $ 2.15  $ 0.99 
Diluted
 1.00  0.73  2.13  0.99 
Dividends:
Cash dividends declared per share
 $ 0.32  $ 0.16  $ 0.64  $ 0.32 
Aggregate dividends paid to stockholders
 $ 29  $ 15  $ 59  $ 30 
Schedule of Stock Repurchase Activity
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, 2021
 9.0  $ 519  $ 57.55 
For the six months ended June 30, 2022
 2.3  180  76.94 
As of June 30, 2022 11.3  $ 699  $ 61.53