Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Tables)

v3.19.3.a.u2
Earnings Per Share (Tables)
 12 Months Ended
Dec. 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) for the years ended December 31:
 
2019
 
2018
 
2017
Net income
$
157

 
$
162

 
$
230

Basic weighted average shares outstanding
96.5

 
99.5

 
99.8

Stock options and restricted stock units (“RSUs”)
0.1

 
0.3

 
—

Diluted weighted average shares outstanding
96.6

 
99.8

 
99.8

 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
Basic
$
1.63

 
$
1.62

 
$
2.31

Diluted
1.62

 
1.62

 
2.31

 
 
 
 
 
 
Dividends:
 
 
 
 
 
Cash dividends declared per share
$
1.16

 
$
0.75

 
$
—

Aggregate dividends paid to shareholders
$
112

 
$
77

 
$
—


Schedule of Stock Repurchase Activity
The following table summarizes stock repurchase activity under this 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 twelve months ended December 31, 2019
4.5

 
244

 
54.25

As of December 31, 2019
6.8

 
$
363

 
$
53.67