Earnings Per Share

6 Months Ended

Jun. 30, 2023

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share on net income (in millions, except per share information):


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Earnings:
Net income	$	207	$	106	$	460	$	303
Less: Net income attributable to noncontrolling interest	2		1		3		1
Net income available to RGA, Inc. shareholders	$	205	$	105	$	457	$	302
Shares:
Weighted average outstanding shares	67		67		67		67
Equivalent shares from outstanding stock awards	1		1		1		1
Denominator for diluted calculation	68		68		68		68
Earnings per share:
Basic	$	3.09	$	1.57	$	6.86	$	4.50
Diluted	$	3.05	$	1.55	$	6.77	$	4.46

The calculation of common equivalent shares does not include the impact of stock awards with a conversion price that exceeds the average stock price for the earnings period as the result would be antidilutive. The calculation of common equivalent shares also excludes the impact of outstanding performance contingent awards as the conditions necessary for their issuance have not been satisfied as of the end of the reporting period.