Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2021

NOTE 6. EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:


	Three Months Ended June 30				Six Months Ended June 30
	2021		2020		2021		2020
	(In millions, except per share amounts)
Numerator:
Net income (loss)	$	790	$	(214)	$	1,432	$	(52)
Preferred stock dividends and other (1)	(42)		(23)		(70)		(46)


Net income (loss) available to common shareholders	$	748	$	(237)	$	1,362	$	(98)
Denominator:
Weighted-average common shares outstanding—basic	958		960		959		958
Potential common shares	7		—		8		—
Weighted-average common shares outstanding—diluted	965		960		967		958






Earnings (loss) per common share:
Basic	$	0.78	$	(0.25)	$	1.42	$	(0.10)
Diluted	0.77		(0.25)		1.41		(0.10)

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(1)Preferred stock dividends and other for the three and six months ended June 30, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares. See Note 5 for additional information.

The effects from the assumed exercise of 4 million in stock options, restricted stock units and awards and performance stock units for both the three months and six months ended June 30, 2021 was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.

For the three and six months ended June 30, 2020, basic and diluted weighted-average common shares outstanding for earnings (loss) per common share are the same due to net losses.