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Earnings (Loss) Per Share (Notes)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS (LOSS) PER SHARE
Earnings (loss) per share attributable to Realogy Holdings
Basic earnings (loss) per common share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per common share is computed based on the weighted average number of shares of common stock outstanding, plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include shares the Company could be obligated to issue from its Exchangeable Senior Notes and warrants (see Note 4. "Short and Long-Term Debt", to the Condensed Consolidated Financial Statements for further discussion) and unvested stock-based awards. The following table sets forth the computation of basic and diluted earnings (loss) per share:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions, except per share data)2021202020212020
Numerator:
Net income (loss) attributable to Realogy Holdings shareholders$114 $98 $296 $(378)
Denominator:
Weighted average common shares outstanding (denominator for basic earnings (loss) per share calculation)116.6 115.4 116.3 115.2 
Dilutive effect of stock-based compensation3.7 1.3 3.9 — 
Dilutive effect of Exchangeable Senior Notes and warrants— — — — 
Weighted average common shares outstanding (denominator for diluted earnings (loss) per share calculation)120.3 116.7 120.2 115.2 
Earnings (loss) per share attributable to Realogy Holdings shareholders:
Basic earnings (loss) per share$0.98 $0.85 $2.55 $(3.28)
Diluted earnings (loss) per share$0.95 $0.84 $2.46 $(3.28)
The three and nine months ended September 30, 2021 exclude 3.8 million and 3.6 million shares, respectively, 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. The three months ended September 30, 2020 exclude 8.3 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. The Company was in a net loss position for the nine months ended September 30, 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. Shares to be provided to the Company from the exchangeable note hedge transactions purchased concurrently with its issuance of Exchangeable Senior Notes are anti-dilutive and are not included in its diluted shares.