EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Amounts attributable to Quest Diagnostics’ common stockholders:
Net income attributable to Quest Diagnostics	$	225	$	256	$	662	$	845
Less: Earnings allocated to participating securities	2		2		4		4
Earnings available to Quest Diagnostics’ common stockholders – basic and diluted	$	223	$	254	$	658	$	841
Weighted average common shares outstanding – basic	112		116		112		117
Effect of dilutive securities:
Stock options and performance share units	2		2		2		2
Weighted average common shares outstanding – diluted	114		118		114		119
Earnings per share attributable to Quest Diagnostics’ common stockholders:
Basic	$	1.99	$	2.20	$	5.87	$	7.17
Diluted	$	1.96	$	2.17	$	5.79	$	7.05

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Stock options and performance share units	1	1	—	—