EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

The following table is a reconciliation of weighted-average shares for calculating basic and diluted earnings per share (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net earnings attributable to Owens Corning	$	345	$	343	$	728	$	647
Weighted-average number of shares outstanding used for basic earnings per share	90.5		97.6		90.9		98.6
Non-vested restricted stock units and performance share units	0.8		0.8		0.8		0.7

Weighted-average number of shares outstanding and common equivalent shares used for diluted earnings per share	91.3		98.4		91.7		99.3
Earnings per common share attributable to Owens Corning common stockholders:
Basic	$	3.81	$	3.51	$	8.01	$	6.56
Diluted	$	3.78	$	3.49	$	7.94	$	6.52

For the three and six months ended June 30, 2023 and June 30, 2022, there were no non-vested RSUs or PSUs that had an anti-dilutive effect on earnings per share.

The Board of Directors approved two share repurchase programs in 2022 under which the Company is authorized to repurchase up to an aggregate of 20 million shares of the Company’s outstanding common stock (the “Repurchase Authorization”). The Repurchase Authorization enables the Company to repurchase shares through the open market, privately negotiated, or other transactions. The actual number of shares repurchased will depend on timing, market conditions and other factors and will be at the Company’s discretion. The Company repurchased 2.6 million shares of its common stock for $250 million, inclusive of applicable taxes, during the six months ended June 30, 2023, under the Repurchase Authorization. As of June 30, 2023, 11.8 million shares remain available for repurchase under the Repurchase Authorization.