Earnings per basic share is computed based on the weighted-average number of common shares outstanding. Earnings per diluted share includes the weighted-average effect of dilutive restricted share units, performance share units and stock options (collectively, “Dilutive Awards”) on the weighted-average common shares outstanding.

The following table provides the weighted-average shares utilized for the calculation of Basic and Diluted Earnings per Share for the second quarters of and year-to-date 2023 and 2022:


	Second Quarter		Year-to-Date
	2023	2022	2023	2022
	(in millions)

Common Shares	243	245	244	250
Treasury Shares	(15)	(15)	(15)	(15)
Basic Shares	228	230	229	235
Effect of Dilutive Awards	1	1	1	2
Diluted Shares	229	231	230	237
Anti-dilutive Awards (a)	—	2	1	1

_______________

(a)These awards were excluded from the calculation of Diluted Earnings per Share because their inclusion would have been anti-dilutive.

In February 2022, the Company's Board of Directors (the “Board”) authorized a $1.5 billion share repurchase program (the “February 2022 Program”). Under the February 2022 Program, the Company repurchased the following shares of its common stock during year-to-date 2023:


Repurchase Program	Amount Authorized		Shares Repurchased	Amount Repurchased		Average Stock Price
	(in millions)		(in thousands)	(in millions)
February 2022	$	1,500	1,326	$	50	$	37.65

The February 2022 Program had $138 million of remaining authority as of July 29, 2023. There were share repurchases of $2 million reflected in Accounts Payable on the July 29, 2023 Consolidated Balance Sheet. Subsequent to July 29, 2023 through September 1, 2023, the Company repurchased an additional 610 thousand shares of its common stock for $22 million under the February 2022 Program.

Shares of common stock repurchased under the February 2022 Program were retired and cancelled upon repurchase. As a result, the Company retired the 1 million shares repurchased under the February 2022 Program during year-to-date 2023, which resulted in reductions of $1 million in the par value of Common Stock, $4 million in Paid-in Capital and $45 million in Retained Earnings (Accumulated Deficit).

The Company paid the following dividends during the first and second quarters of 2023 and 2022:


	Ordinary Dividends		Total Paid
	(per share)		(in millions)
2023
First Quarter	$	0.20	$	46
Second Quarter	0.20		46

Total	$	0.40	$	92
2022
First Quarter	$	0.20	$	48
Second Quarter	0.20		46

Total	$	0.40	$	94

In August 2023, the Company declared the third quarter 2023 ordinary dividend of $0.20 per share payable on September 1, 2023 to stockholders of record at the close of business on August 18, 2023.