EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

13. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted EPS attributable to common stockholders for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
(Millions, except per share amounts)
Numerator
Income from continuing operations	$	134	$	206	$	358	$	737
Income (loss) from discontinued operations, net of income taxes		—		18		(1)		46
Net income	$	134	$	224	$	357	$	783
Denominator
Basic: Weighted average common stock		49.8		49.8		49.9		49.7
Weighted average effect of dilutive securities
Add: net effect of dilutive unvested restricted stock awards (1)		0.1		0.2		0.1		0.3
Diluted		49.9		50.0		50.0		50.0
Basic EPS
Income from continuing operations	$	2.69	$	4.14	$	7.17	$	14.81
Income (loss) from discontinued operations	$	—	$	0.36	$	(0.01)	$	0.94
Net income per share	$	2.69	$	4.50	$	7.16	$	15.75
Diluted EPS
Income from continuing operations	$	2.69	$	4.11	$	7.16	$	14.74
Income (loss) from discontinued operations	$	—	$	0.36	$	(0.01)	$	0.94
Net income per share	$	2.69	$	4.47	$	7.15	$	15.68

(1) For the three and nine months ended September 30, 2022 and 2021, an insignificant amount of restricted stock awards were excluded from each calculation of weighted average dilutive common shares as the effect would have been anti-dilutive.