Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.20.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2020
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,
 
2020
 
2019
Net income
$
22

 
$
21

 
 
 
 
Basic weighted average shares outstanding
93.7

 
97.9

Stock options and restricted stock units (“RSUs”)
0.2

 
0.3

Diluted weighted average shares outstanding
93.9

 
98.2

 
 
 
 
Earnings per share:
 
 
 
Basic
$
0.23

 
$
0.22

Diluted
0.23

 
0.22

 
 
 
 
Dividends:
 
 
 
Cash dividends declared per share
$
0.32

 
$
0.29

Aggregate dividends paid to shareholders
$
30

 
$
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, 2020
6.8

 
$
363

 
$
53.67

For the three months ended March 31, 2020
0.9

 
45

 
51.57

As of March 31, 2020
7.7

 
$
408

 
$
53.43