EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

The computation of basic and diluted earnings per common share was as follows (in millions, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Amounts attributable to Quest Diagnostics’ common stockholders:




Net income attributable to Quest Diagnostics	$	234	$	631	$	589	$	1,100
Less: Earnings allocated to participating securities	1		3		2		4
Earnings available to Quest Diagnostics’ common stockholders – basic and diluted	$	233	$	628	$	587	$	1,096

Weighted average common shares outstanding – basic	117		125		118		129
Effect of dilutive securities:
Stock options and performance share units	2		2		2		2
Weighted average common shares outstanding – diluted	119		127		120		131

Earnings per share attributable to Quest Diagnostics’ common stockholders:
Basic	$	2.00	$	5.05	$	4.97	$	8.52




Diluted	$	1.96	$	4.96	$	4.88	$	8.38

The following securities were not included in the calculation of diluted earnings per share due to their antidilutive effect:


	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Stock options and performance share units	1	1	—	1

The sum of basic and diluted earnings per share attributable to Quest Diagnostics' common stockholders for the first two quarters of 2021 did not equal the total for the six months ended June 30, 2021 due to both quarterly fluctuations in the Company's earnings and in the weighted average common shares outstanding throughout the period as a result of the impact of share repurchases (see Note 9 for further details regarding the Company's share repurchases).