Earnings Per Share

12 Months Ended

Dec. 31, 2023

The calculation of earnings per share is based on the weighted-average number of the Company’s shares outstanding for the applicable period. The calculation of diluted earnings per share reflects the effect of all potentially dilutive shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive. The Company uses the treasury stock method to calculate the dilutive effect of outstanding share-based compensation awards. The number of weighted-average shares outstanding used in the computations of basic and diluted earnings per share for the years ended December 31, 2023, 2022 and 2021 were as follows.


	2023	2022	2021


Weighted-average shares outstanding - Basic	404.8	405.3	414.8
Dilutive effect of outstanding share-based compensation awards	4.2	4.9	6.4
Weighted-average shares outstanding - Diluted	409.0	410.2	421.2

For the years ended December 31, 2023, 2022 and 2021, there were 1.3 million, 1.8 million and 0.7 million anti-dilutive shares that were not included in the computation of diluted earnings per share, respectively.