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

Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

Earnings Per Share

12 Months Ended

Dec. 31, 2022


4. EARNINGS PER SHARE

The computation of basic and diluted earnings/(loss) per share (“EPS”) is based on net income/(loss) 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) for the years ended December 31:


	2022		2021		2020
Net income/(loss)	$	355	$	244	$	(132)

Basic weighted average shares outstanding	90.3		93.4		93.4
Stock options and restricted stock units (“RSUs”) (a)	0.5		0.5		—
Diluted weighted average shares outstanding	90.8		93.9		93.4

Earnings/(loss) per share:
Basic	$	3.93	$	2.61	$	(1.42)
Diluted	3.91		2.60		(1.42)

Dividends:
Cash dividends declared per share	$	1.28	$	0.88	$	0.56
Aggregate dividends paid to stockholders	$	116	$	82	$	53

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(a) Due to the anti-dilutive effect resulting from the reported net loss for the year ended December 31, 2020, 0.1 million of anti-dilutive shares were omitted from the calculation of weighted average shares outstanding for the period.

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 January 1, 2021	9.0	$	519	$	57.55
For the twelve months ended December 31, 2022	6.2	445		71.70
As of December 31, 2022	15.2	$	964	$	63.32

The Company had $436 million of remaining availability under its program as of December 31, 2022.