Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.19.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 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 June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Net income
$
26

 
$
21

 
$
47

 
$
61

Basic weighted average shares outstanding
97.1

 
99.9

 
97.5

 
99.8

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

 
0.1

 
0.3

 
—

Diluted weighted average shares outstanding
97.4

 
100.0

 
97.8

 
99.8

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.27

 
$
0.21

 
$
0.49

 
$
0.61

Diluted
0.27

 
0.21

 
0.49

 
0.61

 
 
 
 
 
 
 
 
Dividends:
 
 
 
 
 
 
 
Cash dividends declared per share
$
0.29

 
$
0.25

 
$
0.29

 
$
0.25

Aggregate dividends paid to shareholders
$
28

 
$
27

 
$
56

 
$
27

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 six months ended June 30, 2019
1.8

 
94

 
52.91

As of June 30, 2019
4.1

 
$
214

 
$
52.68