Basic and diluted earnings per share are calculated by dividing net income attributable to WTW by the average number of ordinary shares outstanding during each period. The computation of diluted earnings per share reflects the potential dilution that could occur if dilutive securities and other contracts to issue shares were exercised or converted into shares or resulted in the issuance of shares that then shared in the net income of the Company.

At June 30, 2024 and 2023, there were 0.7 million and 0.6 million restricted performance-based stock units outstanding, respectively, and 0.5 million restricted time-based stock units outstanding at each period presented. The Company had no time-based share options outstanding at June 30, 2024; time-based share options were immaterial at June 30, 2023. There were no performance-based options outstanding at June 30, 2024 and 2023.

Basic and diluted earnings per share are as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
	2024			2023		2024			2023
Net income attributable to WTW	$	141		$	94	$	331		$	297

Basic average number of shares outstanding		103			107		103			107
Dilutive effect of potentially issuable shares		—			—		1			—
Diluted average number of shares outstanding		103			107		104			107

Basic earnings per share	$	1.37		$	0.88	$	3.22		$	2.78
Dilutive effect of potentially issuable shares		(0.01	)		—		(0.02	)		(0.01	)
Diluted earnings per share	$	1.36		$	0.88	$	3.20		$	2.77

For the three and six months ended June 30, 2024, 0.3 million and 0.1 million restricted stock units, respectively, were not included in the computation of the dilutive effect of potentially issuable shares because their effect was anti-dilutive. Anti-dilutive restricted stock

units were immaterial for the three and six months ended June 30, 2023. There were no anti-dilutive options for the three and six months ended June 30, 2024 and 2023.