EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

Basic earnings per share from continuing operations is computed by dividing net income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share from continuing operations is computed by dividing net income from continuing operations by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potentially dilutive shares of common stock been issued. The dilutive effect of restricted stock units is reflected in diluted earnings per share by applying the treasury stock method. Basic and dilutive earnings per share from discontinued operations are computed under the same approach utilizing the same weighted-average number of shares of common stock outstanding during the period and dilutive shares.

There are no adjustments required to be made to net income from continuing operations for purposes of computing basic and diluted earnings per share from continuing operations.

Basic and diluted earnings per share from continuing operations are calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
In millions, except per share amounts	2023		2022		2023		2022
Net income from continuing operations	$	49	$	84	$	146	$	139
Weighted average common shares outstanding	42.4		44.1		42.4		44.1
Effect of dilutive securities	0.4		0.4		0.6		0.2
Weighted average common shares outstanding - assuming dilution	42.8		44.5		43.0		44.3
Earnings per share from continuing operations - basic	$	1.16	$	1.90	$	3.44	$	3.15
Earnings per share from continuing operations - diluted	$	1.14	$	1.89	$	3.40	$	3.13
Anti-dilutive common shares (a)	0.4		0.2		0.3		0.1

(a) Common stock related to service-based restricted stock units and performance-based restricted stock units were outstanding but excluded from the computation of diluted earnings per share because their effect would be anti-dilutive under the treasury stock method or because the shares were subject to performance conditions that had not been met.