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Computation of Earnings per Common Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Computation of Basic and Diluted EPS The following table presents the Company’s computation of basic and diluted EPS for the periods indicated:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

(in millions, except share and per share amounts)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income available to common stockholders

 

$

144

 

 

$

140

 

 

$

453

 

 

$

421

 

Less: Dividends paid on and earnings allocated
   to participating securities

 

 

(2

)

 

 

(2

)

 

 

(6

)

 

 

(5

)

Earnings applicable to common stock

 

$

142

 

 

$

138

 

 

$

447

 

 

$

416

 

Weighted average common shares outstanding

 

 

465,115,180

 

 

 

464,047,337

 

 

 

465,354,754

 

 

 

463,813,827

 

Basic earnings per common share

 

$

0.31

 

 

$

0.30

 

 

$

0.96

 

 

$

0.90

 

Earnings applicable to common stock

 

$

142

 

 

$

138

 

 

$

447

 

 

$

416

 

Weighted average common shares outstanding

 

 

465,115,180

 

 

 

464,047,337

 

 

 

465,354,754

 

 

 

463,813,827

 

Potential dilutive common shares

 

 

979,177

 

 

 

834,612

 

 

 

926,184

 

 

 

744,292

 

Total shares for diluted earnings per common
   share computation

 

 

466,094,357

 

 

 

464,881,949

 

 

 

466,280,938

 

 

 

464,558,119

 

Diluted earnings per common share and
   common share equivalents

 

$

0.30

 

 

$

0.30

 

 

$

0.96

 

 

$

0.90