Earnings (Loss) Per Share (Notes)

3 Months Ended

Mar. 31, 2021

EARNINGS (LOSS) PER SHARE

Earnings (loss) per share attributable to Realogy Holdings

Basic earnings (loss) per share is computed based on net income (loss) attributable to Realogy Holdings stockholders divided by the basic weighted-average shares outstanding during the period. Dilutive earnings (loss) 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 (loss) per share:


	Three Months Ended March 31,
(in millions, except per share data)	2021		2020
Numerator:
Net income (loss) attributable to Realogy Holdings shareholders	$	33	$	(462)
Denominator:
Weighted average common shares outstanding (denominator for basic earnings (loss) per share calculation)	115.9		114.7
Dilutive effect of stock-based compensation (a)(b)	2.5		—
Weighted average common shares outstanding (denominator for diluted earnings (loss) per share calculation)	118.4		114.7
Earnings (loss) per share attributable to Realogy Holdings shareholders:
Basic earnings (loss) per share	$	0.28	$	(4.03)
Diluted earnings (loss) per share	$	0.28	$	(4.03)

_______________

(a)The three months ended March 31, 2021 exclude 5.8 million shares of common stock issuable for incentive equity awards, which include performance share units based on the achievement of target amounts, that are anti-dilutive to the diluted earnings per share computation.

(b)The Company was in a net loss position for the three months ended March 31, 2020 and therefore the impact of incentive equity awards were excluded from the computation of dilutive loss per share as the inclusion of such amounts would be anti-dilutive.