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Earnings Per Share (Notes) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Net Income per Share |
7. | Earnings Per Share
Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period, plus the dilutive effect of time-vested and performance-based restricted stock units (“RSUs”). The following table summarizes the net income and the basic and diluted shares used in the earnings per share computations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 | 2023 |  | 2024 | 2023
Net income | $ | 18 |  | $ | 12 |  |  | $ | 97 |  | $ | 107 |
Weighted average common shares outstanding | 38 |  | 38 |  |  | 38 |  | 38 |
Incremental shares from assumed time-vested and performance-based RSU awards | — |  | 1 |  |  | — |  | 1 |
Adjusted weighted average common shares outstanding | 38 |  | 39 |  |  | 38 |  | 39 |
An insignificant number of shares of time-vested and performance-based RSU awards were excluded from the calculation of diluted earnings per share due to anti-dilution during each of the three and six month periods ended June 30, 2024 and 2023, respectively.

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