EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Earnings Per Share, Basic and Diluted

The following tables present the calculation of our basic and diluted earnings per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations:


	Three Months Ended June 30,				Six Months Ended June 30,
($ and shares outstanding in millions, except per share amounts)	2025		2024		2025		2024
Basic EPS:
Numerator:
Net income (loss) attributable to stockholders	$	25	$	2	$	8	$	(2)
Denominator:
Weighted average shares outstanding	91.2		103.4		93.3		104.3
Basic EPS(1)	$	0.26	$	0.02	$	0.09	$	(0.02)
Diluted EPS:
Numerator:
Net income (loss) attributable to stockholders	$	25	$	2	$	8	$	(2)
Denominator:
Weighted average shares outstanding	92.2		104.3		94.5		104.3
Diluted EPS(1)	$	0.25	$	0.02	$	0.08	$	(0.02)

Basic weighted average shares outstanding	91.2		103.4		93.3		104.3
RSUs(2), PSUs(3), Options(4) and ESPP	1.0		0.9		1.2		—
Diluted weighted average shares outstanding	92.2		104.3		94.5		104.3

(1)Earnings per share amounts are calculated using whole numbers.

(2) Excludes approximately 957,000 and 740,000 shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2025, respectively. Also excludes approximately 220,000 shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. These RSUs could potentially dilute EPS in the future.

(3) Excludes approximately 243,000 and 1,000 shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2025, respectively. Also excludes approximately 14,000 shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. These PSUs could potentially dilute EPS in the future.

(4) Excludes approximately 1,649,000 and 1,195,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three and six months ended June 30, 2025, respectively. Also excludes approximately 1,212,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three months ended June 30, 2024. These Options could potentially dilute EPS in the future.

Schedule of Stock Repurchase Activity under the Share Repurchase Program

The following table summarizes stock repurchase activity under the current and previous share repurchase programs as of June 30, 2025:


(in millions)	Shares	Cost
As of December 31, 2024	41	$	1,549
Repurchases	8	300
As of June 30, 2025	49	$	1,849

Hilton Grand Vacations Inc. 10-Q