| Earnings Per Share The following chart sets forth the computation of earnings per share (in millions, except per share amounts):
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Net income | $ | 186 | | | $ | 282 | | | $ | 344 | | | $ | 552 | | | Denominator for basic earnings per share—Weighted-average shares outstanding | 265.3 | | | 267.6 | | | 266.2 | | | 267.5 | | | Effect of dilutive securities: | | | | | | | | | Restricted stock units ("RSUs") | 0.2 | | | 0.4 | | | 0.4 | | | 0.6 | | | Performance-based RSUs ("PSUs") | 0.1 | | | 0.2 | | | 0.1 | | | 0.2 | | | | | | | | | | | Denominator for diluted earnings per share—Adjusted weighted-average shares outstanding | 265.6 | | 268.2 | | 266.7 | | 268.3 | | Basic earnings per share | $ | 0.70 | | | $ | 1.05 | | | $ | 1.29 | | | $ | 2.06 | | Diluted earnings per share (1) | $ | 0.70 | | | $ | 1.05 | | | $ | 1.29 | | | $ | 2.06 | |
(1) Diluted earnings per share was computed using the treasury stock method for dilutive securities.
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