Net Income Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Income Per Share

NOTE 4 Net Income Per Share

Basic net income per share is computed based on the weighted average number of common shares (including participating securities) issued and outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares issued and outstanding plus equivalent shares, assuming the issuance of all potentially issuable common shares. The dilutive effect of potentially issuable common shares is computed by application of the treasury stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding:

	Three months ended September 30,						Nine months ended September 30,
(in millions, except per share data)	2024			2023			2024			2023
Net income attributable to the Company	$	234		$	176		$	783		$	602
Net income attributable to unvested awarded performance stock		(3	)		(3	)		(9	)		(9	)
Net income attributable to common shares	$	231		$	173		$	774		$	593
Weighted average number of common shares outstanding – basic		286			284			285			284
Less unvested awarded performance stock included in weighted    average number of common shares outstanding – basic		(4	)		(4	)		(4	)		(4	)
Weighted average number of common shares outstanding for basic    net income per common share		282			280			281			280
Dilutive effect of potentially issuable common shares		2			1			2			1
Weighted average number of shares outstanding – diluted		284			281			283			281
Net income per share:
Basic	$	0.82		$	0.62		$	2.75		$	2.12
Diluted	$	0.81		$	0.62		$	2.73		$	2.11