Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.19.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2019
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 March 31,
 
2019
 
2018
Net income
$
21

 
$
39

Basic weighted average shares outstanding
97.9

 
99.8

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

 
—

Diluted weighted average shares outstanding
98.2

 
99.8

 
 
 
 
Earnings per share:
 
 
 
Basic
$
0.22

 
$
0.40

Diluted
0.22

 
0.40

 
 
 
 
Dividends:
 
 
 
Cash dividends declared per share
$
0.29

 
$
—

Aggregate dividends paid to shareholders
$
28

 
$
—

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 January 1, 2019
2.3

 
$
119

 
$
52.51

For the three months ended March 31, 2019
0.9

 
44

 
50.75

As of March 31, 2019
3.1

 
$
164

 
$
52.02