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Earnings per Common Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings per Common Share |
Note 2 | Earnings per Common Share
Basic earnings per common share is computed using the weighted average number of common shares outstanding, including vested unissued participating restricted stock units. Diluted earnings per common share is computed using the weighted average number of common and dilutive potential common shares outstanding. For the Company, dilutive potential common shares consist of outstanding stock options and unvested non-participating restricted stock units and contingently issuable performance stock awards. The effect of dilutive potential common shares does not include the effect of options with an anti-dilutive effect on earnings per common share because their exercise prices exceed the average market price of Allstate common shares during the period or for which the unrecognized compensation cost would have an anti-dilutive effect.
Computation of basic and diluted earnings per common share |  |  |  |
(In millions, except per share data) |  | Three months ended September 30, |  | Nine months ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Numerator: |  |  |  |  |  |  |  |
Net income |  | $ | 1,153 |  |  | $ | 931 |  |  | $ | 2,952 |  |  | $ | 3,074 |
Less: Preferred stock dividends |  | 27 |  |  | 42 |  |  | 89 |  |  | 103 |
Net income applicable to common shareholders |  | $ | 1,126 |  |  | $ | 889 |  |  | $ | 2,863 |  |  | $ | 2,971 |
Denominator: |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  | 311.2 |  |  | 327.7 |  |  | 314.1 |  |  | 330.8 |
Effect of dilutive potential common shares: |  |  |  |  |  |  |  |
Stock options |  | 1.6 |  |  | 3.4 |  |  | 2.3 |  |  | 3.2 |
Restricted stock units (non-participating) and performance stock awards |  | 1.3 |  |  | 1.9 |  |  | 1.5 |  |  | 1.7 |
Weighted average common and dilutive potential common shares outstanding |  | 314.1 |  |  | 333.0 |  |  | 317.9 |  |  | 335.7 |
Earnings per common share - Basic |  | $ | 3.62 |  |  | $ | 2.71 |  |  | $ | 9.11 |  |  | $ | 8.98 |
Earnings per common share - Diluted |  | 3.58 |  |  | 2.67 |  |  | 9.01 |  |  | 8.85 |
Anti-dilutive options excluded from diluted earnings per common share |  | 4.2 |  |  | 1.8 |  |  | 3.0 |  |  | 3.7 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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