EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2023 and 2022, respectively.


	Three Months Ended June 30,				Six Months Ended June 30,
($ and shares outstanding in millions, except per share amounts)	2023		2022		2023		2022
Basic EPS:
Numerator:
Net income	$	80	$	73	$	153	$	124
Denominator:
Weighted average shares outstanding	111		121		112		120
Basic EPS(1)	$	0.72	$	0.60	$	1.37	$	1.03
Diluted EPS:
Numerator:
Net income	$	80	$	73	$	153	$	124
Denominator:
Weighted average shares outstanding	112		122		113		122
Diluted EPS(1)	$	0.71	$	0.60	$	1.35	$	1.01

(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 June 30, 2023:


(in millions)	Shares	Cost
As of December 31, 2022	7	$	272
Repurchases	5	206
As of June 30, 2023	12	$	478