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, 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) for the years ended December 31:


	2023		2022		2021
Net income	$	289	$	355	$	244

Basic weighted average shares outstanding	84.4		90.3		93.4
Stock options and restricted stock units (“RSUs”) (a)	0.5		0.5		0.5
Diluted weighted average shares outstanding	84.9		90.8		93.9

Earnings per share:
Basic	$	3.43	$	3.93	$	2.61
Diluted	3.41		3.91		2.60

Dividends:
Cash dividends declared per share	$	1.40	$	1.28	$	0.88
Aggregate dividends paid to stockholders	$	118	$	116	$	82

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(a) Diluted shares outstanding exclude shares related to stock options which were immaterial in 2023 and 0.4 million in 2022. Diluted shares outstanding exclude shares related to RSUs of 0.4 million and 0.2 million for 2023 and 2022, respectively. Such options and RSUs were 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 twelve months ended December 31, 2023	5.5	397		72.25
As of December 31, 2023	20.7	$	1,361	$	65.69

The Company had $443 million of remaining availability under its program as of December 31, 2023.