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, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net income	$	70	$	92	$	137	$	198

Basic weighted average shares outstanding	85.3		91.6		85.9		92.0
Stock options and restricted stock units (“RSUs”) (a)	0.4		0.5		0.5		0.7
Diluted weighted average shares outstanding	85.7		92.1		86.4		92.7

Earnings per share:
Basic	$	0.82	$	1.00	$	1.59	$	2.15
Diluted	0.82		1.00		1.59		2.13

Dividends:
Cash dividends declared per share	$	0.35	$	0.32	$	0.70	$	0.64
Aggregate dividends paid to stockholders	$	30	$	29	$	61	$	59

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(a) Diluted shares outstanding excludes shares related to stock options of 0.2 million for both the three and six months ended June 30, 2023 and 0.4 million for both the three and six months ended June 30, 2022. Diluted shares outstanding excludes shares related to RSUs of 0.4 million and 0.5 million for the three and six months ended June 30, 2023, respectively, and 0.3 million and 0.2 million for the three and six months ended June 30, 2022, respectively. Such shares are excluded 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 six months ended June 30, 2023	2.4	165		69.20
As of June 30, 2023	17.6	$	1,129	$	64.12

The Company had $272 million of remaining availability under its program as of June 30, 2023.