XML 50 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Earnings Per Share Of Common Stock (Tables)
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Reconciliation of basic and diluted earnings per share
The following table reconciles basic and diluted EPS of common stock:
(In millions, except per share amounts)
 
For the Three Months Ended March 31,
Reconciliation of Basic and Diluted Earnings per Share of Common Stock
 
2018
 
2017
 
 
 
 
 
 
 
 
 
 
Earnings Per Share of Common Stock
 
 
 
 
Income from continuing operations
 
$
177

 
$
257

Less: Preferred dividends
 
(43
)
 
—

Less: Amortization of beneficial conversion feature
 
(113
)
 
—

Less: Undistributed earnings allocated to preferred stockholders (1)
 
—

 
—

Income from continuing operations available to common stockholders
 
21

 
257

Discontinued operations, net of tax
 
1,192

 
(52
)
Less: Undistributed earnings allocated to preferred stockholders (1)
 
—

 
—

Income (loss) from discontinued operations available to common stockholders
 
1,192

 
(52
)
 
 
 
 
 
Income available to common stockholders, basic and diluted
 
$
1,213

 
$
205

 
 
 
 
 
Share Count information:
 
 
 
 
Weighted average number of basic shares outstanding
 
476

 
443

Assumed exercise of dilutive stock options and awards
 
2

 
1

Assumed conversion of preferred stock
 
—

 
—

Weighted average number of diluted shares outstanding
 
478

 
444

 
 
 
 
 
Income available to common stockholders, per common share:
 
 
 
 
Income from continuing operations, basic
 
$
0.04

 
$
0.58

Discontinued operations, basic
 
2.51

 
(0.12
)
Income available to common stockholders, basic
 
$
2.55

 
$
0.46

 
 
 
 
 
Income from continuing operations, diluted
 
$
0.04

 
$
0.58

Discontinued operations, diluted
 
2.50

 
(0.12
)
Income available to common stockholders, diluted
 
$
2.54

 
$
0.46


(1) 
Undistributed earnings were not allocated to participating securities as income from continuing operations less dividends declared (common and preferred) and deemed dividends was a net loss.