Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.10.0.1
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2018
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
 
Nine Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
Net income
$
58

 
$
58

 
$
118

 
$
138

Basic weighted average shares outstanding
99.8

 
99.8

 
99.8

 
99.8

Stock options and restricted stock units (“RSUs”)
0.3

 
—

 
0.1

 
—

Diluted weighted average shares outstanding
100.1

 
99.8

 
99.9

 
99.8

Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.58

 
$
0.58

 
$
1.19

 
$
1.39

Diluted
0.58

 
0.58

 
1.19

 
1.39

 
 
 
 
 
 
 
 
Dividends:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Aggregate dividends paid to shareholders
$
25

 
$
—

 
$
52

 
$
—

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 May 31, 2018
—

 
$
—

 
$
—

For the four months ended September 30, 2018
1.0

 
59

 
57.84

As of September 30, 2018
1.0

 
$
59

 
57.84