Earnings Per Share (“EPS”), Share Repurchases and Dividends

3 Months Ended

Mar. 31, 2025

Earnings Per Share (“EPS”), Share Repurchases and Dividends

EPS


	Three Months Ended March 31,
(In millions, except per share amounts)		2025		2024
Net earnings		$	50	$	29
Basic weighted average number of shares outstanding		265.3		262.7
Impact of dilutive share-based awards		3.5		3.7
Diluted weighted average number of shares outstanding		268.8		266.4
Earnings per share attributable to common shareholders - basic		$	0.19	$	0.11
Earnings per share attributable to common shareholders - diluted		$	0.19	$	0.11

Basic EPS is computed by dividing net earnings by the weighted average number of shares of common stock outstanding during each period. The computation of diluted EPS includes the dilutive effect of outstanding share-based compensation awards (which primarily consist of employee stock options, restricted stock units, and performance-based restricted stock units).

Share Repurchases

On February 20, 2025, the Company announced that its Board of Directors (the “Board”) approved a share repurchase program that allows the Company to purchase up to $75 million of its outstanding common stock through March 4, 2027, subject to market conditions. As of March 31, 2025, the Company has repurchased approximately $3 million under the program. The Company retires its common stock upon repurchase with the excess over par value allocated to additional paid-in capital.

Dividends

The Company declared and paid a quarterly dividend of $.09 per share of its common stock during the three months ended March 31, 2025. Subsequent to quarter end, the Company’s Board of Directors

declared a cash dividend of $.09 per share of common stock payable on June 5, 2025 to shareholders of record as of the close of business on May 22, 2025.