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

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net income	$	103	$	101	$	240	$	299

Basic weighted average shares outstanding	84.0		89.5		85.2		91.2
Stock options and restricted stock units (“RSUs”) (a)	0.5		0.4		0.5		0.5
Diluted weighted average shares outstanding	84.5		89.9		85.7		91.7

Earnings per share:
Basic	$	1.22	$	1.13	$	2.81	$	3.28
Diluted	1.21		1.13		2.79		3.26

Dividends:
Cash dividends declared per share	$	0.35	$	0.32	$	1.05	$	0.96
Aggregate dividends paid to stockholders	$	29	$	29	$	90	$	88

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(a) Diluted shares outstanding excludes shares related to stock options of 0.2 million for both the three and nine months ended September 30, 2023 and 0.4 million for both the three and nine months ended September 30, 2022. Diluted shares outstanding excludes shares related to RSUs of 0.4 million for both the three and nine months ended September 30, 2023, and 0.2 million for both the three and nine months ended September 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) which includes excise taxes and fees:


	Shares	Cost		Average Price Per Share
As of December 31, 2022	15.2	$	964	$	63.32
For the nine months ended September 30, 2023	3.8	270		71.44
As of September 30, 2023	19.0	$	1,234	$	64.93

The Company had $569 million of remaining availability under its program as of September 30, 2023.