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Earnings Per Share | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following is a reconciliation of the shares used in calculating basic and diluted EPS:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Net income (in millions) | $ | 427 |  |  | $ | 254 |  |  | $ | 401 |
Shares (in thousands): |  |  |  |  |
Weighted average common shares outstanding | 180,225 |  |  | 180,094 |  |  | 179,958 |
Add: Participating securities (a) | 22 |  |  | 22 |  |  | 29 |
Weighted average common shares outstanding — Basic | 180,247 |  |  | 180,116 |  |  | 179,987 |
Plus incremental shares from assumed conversions: (b) |  |  |  |  |
Dilutive effect of stock options | 871 |  |  | 671 |  |  | 803 |
Dilutive effect of restricted stock units and performance share units | 408 |  |  | 312 |  |  | 406 |
Weighted average common shares outstanding — Diluted | 181,526 |  |  | 181,099 |  |  | 181,196 |
Basic earnings per share | $ | 2.37 |  |  | $ | 1.41 |  |  | $ | 2.23 |
Diluted earnings per share | $ | 2.35 |  |  | $ | 1.40 |  |  | $ | 2.21 |
(a)Restricted stock awards containing rights to non-forfeitable dividends that participate in undistributed earnings with common shareholders are considered participating securities for purposes of computing EPS. (b)Incremental shares from stock options, restricted stock units and performance share units are computed by the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock units and performance share units, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards. Performance share units are included in the treasury stock calculation of diluted earnings per share based upon achievement of underlying performance and market conditions at the end of the reporting period, as applicable. See Note 17, "Share-Based Compensation Plans" for further detail on the performance share units.
| Year Ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Stock options | 1,132 |  |  | 1,545 |  |  | 1,383 |
Restricted stock units | 271 |  |  | 362 |  |  | 348 |
Performance share units | 330 |  |  | 305 |  |  | 394 |

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