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Earnings Per Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Note 15. Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potentially dilutive shares of common stock been issued. The dilutive effect of stock options, performance options, RSUs, performance shares and RSAs are reflected in diluted earnings per share by applying the treasury stock method.

A summary of the calculations of our basic and diluted earnings per share is as follows:

Three Months Ended

March 31,

(In millions, except per share data)

2023

2022

Net Income

$

22

$

2

Weighted-average common shares outstanding:

81.5

82.3

Effect of dilutive securities:

RSUs(1)

0.4

0.3

Stock options(2)

—

—

Weighted-average common shares outstanding - assuming dilution:

81.9

82.6

Basic earnings per share

$

0.27

$

0.02

Diluted earnings per share

$

0.27

$

0.02

___________________________________

(1)RSUs of 510,116 shares and 429,064 shares for the three months ended March 31, 2023 and 2022, respectively, were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.

(2)Stock options to purchase 1,114,819 shares and 1,200,018 shares for the three months ended March 31, 2023 and 2022, respectively, and performance options to purchase 258,596 shares for the three months ended March 31, 2023 were not included in the diluted earnings per share calculation because their effect would have been anti-dilutive.