Net Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method

Basic and diluted net earnings per common share based on the weighted average outstanding shares are summarized as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions, except shares and per share amounts)	2020		2019		2020		2019
Basic:
Net income	$	66	$	198	$	80	$	411
Less common and preferred dividends	66		63		130		127
Undistributed earnings	—		135		(50)		284
Less undistributed earnings applicable to nonvested shares	—		1		—		2
Undistributed earnings applicable to common shares	—		134		(50)		282
Distributed earnings applicable to common shares	56		54		112		110
Total earnings applicable to common shares	$	56	$	188	$	62	$	392
Weighted average common shares outstanding (in thousands)	163,542		179,156		163,843		181,946
Net earnings per common share	$	0.34	$	1.05	$	0.38	$	2.15
Diluted:
Total earnings applicable to common shares	$	56	$	188	$	62	$	392
Weighted average common shares outstanding (in thousands)	163,542		179,156		163,843		181,946
Dilutive effect of common stock warrants (in thousands)	723		9,318		4,012		9,587
Dilutive effect of stock options (in thousands)	160		624		277		673
Weighted average diluted common shares outstanding (in thousands)	164,425		189,098		168,132		192,206
Net earnings per common share	$	0.34	$	0.99	$	0.37	$	2.04

Schedule of Weighted Average Number of Shares

The following schedule presents the weighted average stock awards that were anti-dilutive and not included in the calculation of diluted earnings per share.

	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2020	2019	2020	2019
Restricted stock and restricted stock units	1,321	1,446	1,357	1,435
Stock options	938	492	855	411