Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Earnings (Loss) Per Share, Basic and Diluted

The following tables present the calculation of our basic and diluted earnings per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations for the three months ended March 31, 2023 and 2022, respectively.


	Three Months Ended March 31,
($ and shares outstanding in millions, except per share amounts)	2023		2022
Basic EPS:
Numerator:
Net income	$	73	$	51
Denominator:
Weighted average shares outstanding	113		120
Basic EPS(1)	$	0.65	$	0.42
Diluted EPS:
Numerator:
Net income	$	73	$	51
Denominator:
Weighted average shares outstanding	114		122
Diluted EPS(1)	$	0.64	$	0.42

(1)Earnings per share amounts are calculated using whole numbers.

Schedule of stock repurchase activity under the share repurchase program

The following table summarizes stock repurchase activity under the share repurchase program as of March 31, 2023:


(in millions)	Shares	Cost
As of December 31, 2022	7	$	272
Repurchases	2	85
As of March 31, 2023	9	$	357