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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share

A summary of the calculations of our basic and diluted earnings per share is as follows:

 

 

 

Year Ended
December 31,

 

(In millions, except per share data)

 

2024

 

 

2023

 

 

2022

 

Net Income

 

$

 

235

 

 

$

 

171

 

 

$

 

71

 

Weighted-average common shares outstanding

 

 

 

77.0

 

 

 

 

80.5

 

 

 

 

81.8

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

RSUs(1)

 

 

 

0.6

 

 

 

 

0.3

 

 

 

 

0.1

 

Stock options(2)

 

 

 

0.2

 

 

 

 

—

 

 

 

 

—

 

Performance options(3)

 

 

 

0.2

 

 

 

 

—

 

 

 

 

—

 

Weighted-average common shares outstanding - assuming dilution:

 

 

 

78.0

 

 

 

 

80.9

 

 

 

 

82.0

 

Basic earnings per share

 

$

 

3.05

 

 

$

 

2.13

 

 

$

 

0.87

 

Diluted earnings per share

 

$

 

3.01

 

 

$

 

2.12

 

 

$

 

0.87

 

 

(1)
RSUs of 384,580 shares, 507,005 shares and 769,704 shares for the years ended December 31, 2024, 2023 and 2022, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.
(2)
Stock options to purchase 657,029 shares, 1,276,776 shares and 1,357,963 shares for the years ended December 31, 2024, 2023 and 2022, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.
(3)
Performance options to purchase 646,230 shares and 159,769 shares for the years ended December 31, 2023 and 2022, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive. There were no anti-dilutive performance options for the year ended December 31, 2024.