Earnings Per Share Of Common Stock (Tables)

9 Months Ended

Sep. 30, 2020

Reconciliation of Basic and Diluted Earnings Per Share

The following table reconciles basic and diluted EPS of common stock:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Reconciliation of Basic and Diluted EPS of Common Stock	2020		2019		2020		2019

(In millions, except per share amounts)
EPS of Common Stock
Income from continuing operations	$	460	$	389	$	791	$	1,085
Less: Preferred dividends	—		—		—		(3)

Less: Undistributed earnings allocated to preferred stockholders	—		—		—		(4)
Income from continuing operations available to common stockholders	460		389		791		1,078
Discontinued operations, net of tax	(6)		2		46		(62)
Less: Undistributed earnings allocated to preferred stockholders	—		—		—		—
Income (loss) from discontinued operations available to common stockholders	(6)		2		46		(62)

Income available to common stockholders, basic	$	454	$	391	$	837	$	1,016

Income allocated to preferred shareholders, preferred dilutive	—		—		—		(7)

Income available to common stockholders, dilutive	$	454	$	391	$	837	$	1,023

Share Count information:
Weighted average number of basic shares outstanding	542		538		542		533
Assumed exercise of dilutive stock options and awards	1		2		1		2
Assumed conversion of preferred stock	—		2		—		6
Weighted average number of diluted shares outstanding	543		542		543		541

Income available to common stockholders, per common share:
Income from continuing operations, basic	$	0.85	$	0.72	$	1.46	$	2.02
Discontinued operations, basic	(0.01)		0.01		0.08		(0.12)
Income available to common stockholders, basic	$	0.84	$	0.73	$	1.54	$	1.90

Income from continuing operations, diluted	$	0.85	$	0.72	$	1.46	$	2.00
Discontinued operations, diluted	(0.01)		—		0.08		(0.11)
Income available to common stockholders, diluted	$	0.84	$	0.72	$	1.54	$	1.89