Earnings Per Share

12 Months Ended

Dec. 31, 2024

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):


	2024		2023		2022
Earnings:
Net income (numerator for basic and diluted calculations)	$	724	$	909	$	521
Less: Net income attributable to noncontrolling interest	7		7		4
Net income available to RGA, Inc. shareholders	$	717	$	902	$	517
Shares:
Weighted average outstanding shares (denominator for basic calculations)	65.8		66.3		66.9
Equivalent shares from outstanding stock awards	1.1		0.8		0.8
Diluted shares (denominator for diluted calculations)	66.9		67.1		67.7
Earnings per share:
Basic	$	10.90	$	13.60	$	7.73
Diluted	10.73		13.44		7.64

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.