Earnings Per Share

3 Months Ended

Mar. 31, 2025

Note 18 — Earnings Per Share

Basic and diluted earnings per share are calculated by dividing net income attributable to WTW by the average number of ordinary shares outstanding during each period. The computation of diluted earnings per share reflects the potential dilution that could occur if dilutive securities and other contracts to issue shares were exercised or converted into shares or resulted in the issuance of shares that then shared in the net income of the Company.

At March 31, 2025 and 2024, there were 0.7 million and 0.5 million restricted performance-based stock units outstanding, respectively, and 0.3 million and 0.4 million restricted time-based stock units outstanding, respectively. The Company had no time-based share options or performance-based share options outstanding at March 31, 2025 and 2024.

Basic and diluted earnings per share are as follows:


	Three Months Ended March 31,
	2025			2024
Net income attributable to WTW	$	235		$	190

Basic average number of shares outstanding		100			103
Dilutive effect of potentially issuable shares		1			1
Diluted average number of shares outstanding		101			104

Basic earnings per share	$	2.34		$	1.84
Dilutive effect of potentially issuable shares		(0.01	)		(0.01	)
Diluted earnings per share	$	2.33		$	1.83

There were no anti-dilutive restricted stock units or anti-dilutive options for the three months ended March 31, 2025 and 2024.