EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

The following tables present the calculation of our basic and diluted EPS and the corresponding weighted average shares outstanding referenced in these calculations for the years ended December 31, 2024, 2023, and 2022.


	Year Ended December 31,
($ and shares outstanding in millions, except per share amounts)	2024		2023		2022
Basic EPS:
Numerator:
Net income attributable to stockholders	$	47	$	313	$	352
Denominator:
Weighted average shares outstanding	101.9		110.1		118.0
Basic EPS(1)	$	0.46	$	2.84	$	2.98
Diluted EPS:
Numerator:
Net income attributable to stockholders	$	47	$	313	$	352
Denominator:
Weighted average shares outstanding	103.1		111.6		119.6
Diluted EPS(1)	$	0.45	$	2.80	$	2.93

Basic weighted average shares outstanding	101.9		110.1		118.0
RSUs(2), PSUs(3), Options(4) and ESPP	1.2		1.5		1.6
Diluted weighted average shares outstanding	103.1		111.6		119.6

(1)Earnings per share amounts are calculated using whole numbers.

(2) There were no anti-dilutive RSUs for the years ended December 31, 2024, 2023, and 2022, respectively.

(3) There were no anti-dilutive PSUs for the years ended December 31, 2024, 2023, and 2022, respectively.

(4) Excludes approximately 1,140,000, 818,000 and 760,000 shares of Options that would have been anti-dilutive to EPS for the years ended December 31, 2024, 2023, and 2022, respectively, under the treasury stock method. These Options could potentially dilute EPS in the future.

Share Repurchases

On May 3, 2023, our Board of Directors approved a share repurchase program authorizing the Company to repurchase up to an aggregate of $500 million of its outstanding shares of common stock over a two-year period (the "2023 Repurchase Plan"). On August 7, 2024, our Board of Directors approved a new share repurchase program authorizing the Company to repurchase up to an aggregate of $500 million of its outstanding shares of common stock over a two-year period (the "2024 Repurchase Plan") which is in addition to the 2023 Repurchase Plan. The repurchases can be made through any combination of open market purchases, accelerated share repurchases, privately negotiated transactions or an other permissible manner. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements and other market and economic conditions. The shares are retired upon repurchase. The stock repurchase programs may be suspended or discontinued at any time and will automatically expire at the end of each plan's respective term. As of December 31, 2024, $428 million remains available to be repurchased under the 2024 Repurchase Plan.

The following table summarizes stock repurchase activity under the share repurchase programs as of December 31, 2024:


(in millions)	Shares	Cost
As of December 31, 2023	31	$	1,117
Repurchases	10	432
As of December 31, 2024	41	$	1,549

From January 1, 2025, through February 20, 2025, we repurchased approximately 1.6 million shares for $66 million. As of February 20, 2025, we had $361 million of remaining availability under the 2024 Repurchase Plan.