Earnings Per Share

12 Months Ended

Dec. 31, 2023

Note 6 Earnings Per Share

Basic earnings per share attributable to UScellular shareholders is computed by dividing Net income attributable to UScellular shareholders by the weighted average number of Common Shares outstanding during the period. Diluted earnings per share attributable to UScellular shareholders is computed by dividing Net income attributable to UScellular shareholders by the weighted average number of Common Shares outstanding during the period adjusted to include the effects of potentially dilutive securities. Potentially dilutive securities primarily include incremental shares issuable upon the exercise of outstanding stock options and the vesting of performance and restricted stock units, as calculated using the treasury stock method.

The amounts used in computing basic and diluted earnings per share attributable to UScellular shareholders were as follows:


Year Ended December 31,	2023		2022		2021
(Dollars and shares in millions, except per share amounts)
Net income attributable to UScellular shareholders	$	54	$	30	$	155

Weighted average number of shares used in basic earnings per share	85		85		86
Effects of dilutive securities	2		1		1
Weighted average number of shares used in diluted earnings per share	87		86		87

Basic earnings per share attributable to UScellular shareholders	$	0.64	$	0.35	$	1.80

Diluted earnings per share attributable to UScellular shareholders	$	0.63	$	0.35	$	1.77

Certain Common Shares issuable upon the exercise of stock options or vesting of performance and restricted stock units were not included in weighted average diluted shares outstanding for the calculation of Diluted earnings per share attributable to UScellular shareholders because their effects were antidilutive. The number of such Common Shares excluded was 1 million in 2023 and less than 1 million in each of 2022 and 2021.