EARNINGS PER SHARE

Earnings per share attributable to Realogy Holdings

Basic earnings per share is computed based on net income attributable to Realogy Holdings stockholders divided by the basic weighted-average shares outstanding during the period. Dilutive earnings per share is computed consistently with the basic computation while giving effect to all dilutive potential common shares and common share equivalents that were outstanding during the period. Realogy Holdings uses the treasury stock method to reflect the potential dilutive effect of unvested stock awards and unexercised options. The following table sets forth the computation of basic and diluted earnings per share:



	Year Ended December 31,
(in millions, except per share data)	2018		2017		2016
Net income attributable to Realogy Holdings shareholders	$	137	$	431	$	213
Basic weighted average shares	124.0		136.7		144.5
Stock options, restricted stock units and performance share units (a)	1.3		1.7		1.3
Weighted average diluted shares	125.3		138.4		145.8

Earnings Per Share:
Basic	$	1.10	$	3.15	$	1.47
Diluted	$	1.09	$	3.11	$	1.46

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(a)	Excludes 6.9 million, 5.3 million and 4.5 million shares of common stock issuable for incentive equity awards which includes performance share units based on the achievement of target amounts, for the years ended December 31, 2018, 2017 and 2016, respectively, that are anti-dilutive to the diluted earnings per share computation.

Under the 2016, 2017 and 2018 share repurchase programs, the Company's Board of Directors authorized up to $925 million of the Company’s common stock. For the year ended December 31, 2018, the Company repurchased and retired 17.9 million shares of common stock for $402 million at a weighted average market price of $22.47 per share. For the year ended December 31, 2017, the Company repurchased and retired 9.4 million shares of common stock for $276 million at a weighted average market price of $29.38 per share. For the year ended December 31, 2016, the Company repurchased and retired 7.1 million shares of common stock for $199 million at a weighted average market price of $27.96 per share, which included 0.2 million shares for which the trade date occurred in late December 2016 while settlement occurred in January 2017. The purchase of shares under these plans reduce the weighted-average number of shares outstanding in the basic earnings per share calculation.