EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Earnings 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:


	Three Months Ended September 30,				Nine Months Ended September 30,
($ and shares outstanding in millions, except per share amounts)	2023		2022		2023		2022
Basic EPS:
Numerator:
Net income	$	92	$	150	$	245	$	274
Denominator:
Weighted average shares outstanding	109.5		119.6		111.0		121.3
Basic EPS(1)	$	0.84	$	1.25	$	2.21	$	2.26
Diluted EPS:
Numerator:
Net income	$	92	$	150	$	245	$	274
Denominator:
Weighted average shares outstanding	110.9		121.1		112.6		122.9
Diluted EPS(1)	$	0.83	$	1.24	$	2.18	$	2.23

Basic weighted average shares outstanding	109.5		119.6		111.0		121.3
RSUs(2), PSUs(3), Options(4) and ESPP	1.4		1.5		1.6		1.6
Diluted weighted average shares outstanding	110.9		121.1		112.6		122.9

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

(2) There were no anti-dilutive RSUs for the three and nine months ended September 30, 2023 and 2022, respectively.

(3) There were no anti-dilutive PSUs for the three and nine months ended September 30, 2023 and 2022, respectively.

(4) Excludes 0.9 million and 0.7 million of Options that would have been anti-dilutive to EPS for the three and nine months ended September 30, 2023, respectively, under the treasury stock method; and 0.8 million and 0.7 million of Options that would have been anti-dilutive to EPS for the three and nine months ended September 30, 2022, respectively, under the treasury stock method. These Options could potentially dilute EPS in the future.

Schedule of Stock Repurchase Activity under the Share Repurchase Program

The following table summarizes stock repurchase activity under the share repurchase programs as of September 30, 2023:


(in millions)	Shares	Cost
As of December 31, 2022	7	$	272
Repurchases	6	269
As of September 30, 2023	13	$	541