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Earnings (Loss) Per Share (Notes) | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE Earnings per share attributable to Anywhere Basic earnings per common share is computed based on net income attributable to Anywhere stockholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is computed consistently with the basic computation plus the effect of dilutive potential common shares outstanding during the period. Dilutive potential common shares include shares that the Company could be obligated to issue from outstanding stock-based compensation awards and its Exchangeable Senior Notes and warrants if dilutive (see Note 4, "Short and Long-Term Debt", for further discussion). For purposes of computing diluted earnings per common share, weighted average common shares do not include potentially dilutive common shares if their effect is anti-dilutive. As such, the shares that the Company could be obligated to issue from its stock options, warrants and Exchangeable Senior Notes are excluded from the earnings per share calculation if the exercise or exchangeable price exceeds the average market price of common shares. The Company uses the treasury stock method to calculate the dilutive effect of outstanding stock-based compensation. If dilutive, the Company uses the if converted method to calculate the dilutive effect of its Exchangeable Senior Notes. These notes will have a dilutive impact when the average market price of the Company’s common stock exceeds the initial exchange price of $24.49 per share. The Exchangeable Senior Notes were not dilutive as of September 30, 2022 as the closing price of the Company's common stock as of September 30, 2022 was less than the initial exchange price. The f ollowing table sets forth the computation of basic and diluted earnings per share:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In millions, except per share data) | 2022 |  | 2021 |  | 2022 |  | 2021
Numerator: |  |  |  |  |  |  |
Net income attributable to Anywhere shareholders | $ | 55 |  |  | $ | 114 |  |  | $ | 166 |  |  | $ | 296 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding (denominator for basic earnings per share calculation) | 112.2 |  |  | 116.6 |  |  | 115.3 |  |  | 116.3 |
Dilutive effect of stock-based compensation awards (a) | 1.3 |  |  | 3.7 |  |  | 1.7 |  |  | 3.9 |
Dilutive effect of Exchangeable Senior Notes and warrants (b) | — |  |  | — |  |  | — |  |  | — |
Weighted average common shares outstanding (denominator for diluted earnings per share calculation) | 113.5 |  |  | 120.3 |  |  | 117.0 |  |  | 120.2 |
Earnings per share attributable to Anywhere shareholders:
Basic earnings per share | $ | 0.49 |  |  | $ | 0.98 |  |  | $ | 1.44 |  |  | $ | 2.55 |
Diluted earnings per share | $ | 0.48 |  |  | $ | 0.95 |  |  | $ | 1.42 |  |  | $ | 2.46 |
_______________ (a)The three months ended September 30, 2022 and 2021, respectively, exclude 5.4 million and 3.8 million shares of common stock issuable for incentive equity awards which includes performance share units based on the achievement of target amounts, that are anti-dilutive to the diluted earnings per share computation. The nine months ended September 30, 2022 and 2021, respectively, exclude 5.0 million and 3.6 million shares of common stock issuable for incentive equity awards which includes performance share units based on the achievement of target amounts, that are anti-dilutive to the diluted earnings per share computation. (b)Shares to be provided to the Company from the exchangeable note hedge transactions purchased concurrently with its issuance of Exchangeable Senior Notes in June 2021 are anti-dilutive and therefore they are not treated as a reduction to its diluted shares. For the three and nine months ended September 30, 2022, the Company repurchased and retired 4.9 million shares and 8.8 million shares of common stock for $52 million and $97 million, respectively. The purchase of shares under this plan reduces the weighted-average number of shares outstanding in the basic earnings per share calculation.

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