EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024


	For the year ended December 31,
	(in millions, except per share data)
	2024		2023		2022
Income (loss) from continuing operations	$	335	$	517	$	300

Gain (loss) on disposition of discontinued operations – net of tax	—		1		—
Net income (loss)	$	335	$	518	$	300
Basic shares:
Weighted average shares outstanding	67.0		67.5		68.5
Earnings (loss) per share – basic:
Income (loss) from continuing operations	$	5.00	$	7.65	$	4.38

Gain (loss) on disposition of discontinued operations – net of tax	—		0.02		—
Net income (loss)	$	5.00	$	7.67	$	4.38
Diluted shares:
Weighted average shares outstanding – basic	67.0		67.5		68.5
Effect of dilutive securities:
Restricted stock	0.6		0.8		0.9
Diluted weighted average shares outstanding	67.6		68.3		69.4
Earnings (loss) per share – diluted:
Income (loss) from continuing operations	$	4.96	$	7.56	$	4.32

Gain (loss) on disposition of discontinued operations – net of tax	—		0.02		—
Net income (loss)	$	4.96	$	7.58	$	4.32

Non-vested restricted stock awards and restricted stock units (“Restricted Stock”) granted by the Company are treated as potential common shares outstanding in computing diluted earnings per share using the treasury stock method. Weighted average Restricted Stock of approximately 0.1 million were outstanding during the year ended December 31, 2024, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance. There were no weighted average Restricted Stock outstanding during the year ended December 31, 2023 that would have an anti-dilutive effect. Weighted average Restricted Stock of approximately 0.1 million were outstanding during the year ended December 31, 2022, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance.