Earnings Per Share

3 Months Ended

Mar. 31, 2023

EARNINGS PER SHARE

The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of the Company’s potential common stock:


	Three Months Ended
(in millions, except per share amounts)	March 31, 2023		March 31, 2022
Computation of Basic Earnings Per Share
Net income	$	757	$	377
Shares for basic earnings per share	309.6		328.3
Basic earnings per share	$	2.44	$	1.15
Computation of Diluted Earnings Per Share
Net income	$	757	$	377
Shares for basic earnings per share	309.6		328.3
Effect of dilutive securities
Stock-based compensation	1.4		1.7
Shares for diluted earnings per share	311.0		330.0
Diluted earnings per share	$	2.43	$	1.14