Income (loss) and Dividends per Common Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Income (loss) and Dividends per Common Share

Income (loss) and Dividends per Common Share

Basic income (loss) per share is based on the weighted average number of common shares outstanding. Diluted income (loss) per share assumes exercise of stock options in all periods, provided the effect is not antidilutive. The per share calculations below exclude 2 million of stock options for the three months ended March 31, 2022 and 6 million of stock options for the three months ended March 31, 2021 that were antidilutive.

	Three Months Ended March 31,
(In millions, except per share data)	2022		2021
Net income (loss)	$	1,304	$	97
Weighted average common shares outstanding	730		789
Effect of dilutive securities	2		—
Weighted average common shares, diluted	732		789
Net income (loss) per share:
Basic	$	1.79	$	0.12
Diluted	$	1.78	$	0.12
Dividends per share	$	0.07	$	0.03