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

3 Months Ended

Mar. 31, 2023


4. EARNINGS PER SHARE

The computation of basic and diluted earnings 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 March 31,
	2023		2022
Net income	$	67	$	106

Basic weighted average shares outstanding	86.5		92.5
Stock options and restricted stock units (“RSUs”) (a)	0.6		0.7
Diluted weighted average shares outstanding	87.1		93.2

Earnings per share:
Basic	$	0.77	$	1.15
Diluted	0.77		1.14

Dividends:
Cash dividends declared per share	$	0.35	$	0.32
Aggregate dividends paid to stockholders	$	31	$	30

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(a) Diluted shares outstanding excludes 0.5 million shares related to stock options and RSUs for both the three months ended March 31, 2023 and 2022, as their effect would have been anti-dilutive under the treasury stock method.

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, 2022	15.2	$	964	$	63.32
For the three months ended March 31, 2023	0.8	56		70.48
As of March 31, 2023	16.0	$	1,020	$	63.67

The Company had $381 million of remaining availability under its program as of March 31, 2023.