Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

A reconciliation of the numerators and denominators of the basic and diluted per share computations of Common Stock based on the consolidated earnings of Prudential Financial for the periods indicated, is as follows:



	Three Months Ended March 31,
	2020							2019
	Income			Weighted Average Shares	Per Share Amount			Income		Weighted Average Shares	Per Share Amount
	(in millions, except per share amounts)
Basic earnings per share
Net income (loss)	$	(270	)					$	937
Less: Income (loss) attributable to noncontrolling interests	1							5
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards	5							10
Net income (loss) attributable to Prudential Financial available to holders of Common Stock	$	(276	)	397.0	$	(0.70	)	$	922	409.2	$	2.25
Effect of dilutive securities and compensation programs
Add: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Basic	$	5						$	10
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Diluted	5							10
Stock options				0.0						1.2
Deferred and long-term compensation programs				0.0						1.1
Exchangeable Surplus Notes	0			0.0				5		6.1
Diluted earnings per share(1)
Net income (loss) attributable to Prudential Financial available to holders of Common Stock	$	(276	)	397.0	$	(0.70	)	$	927	417.6	$	2.22

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(1)

For the three months ended March 31, 2020, weighted average shares for basic earnings per share is also used for calculating diluted earnings per share because dilutive shares and dilutive earnings per share are not applicable when a net loss is reported. As a result of the net loss attributable to Prudential Financial available to holders of Common Stock for the three months ended March 31, 2020, all potential stock options and compensation programs were considered antidilutive.

Earnings Per Share Computation

For the periods indicated, the number of stock options and shares related to deferred and long-term compensation programs that were considered antidilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, are as follows:



	Three Months Ended March 31,
	2020			2019
	Shares	Exercise Price Per Share		Shares	Exercise Price Per Share
	(in millions, except per share amounts, based on weighted average)
Antidilutive stock options based on application of the treasury stock method	2.3	$	87.62	1.1	$	103.47
Antidilutive stock options due to net loss available to holders of Common Stock	0.9			0.0
Antidilutive shares based on application of the treasury stock method	0.2			0.0
Antidilutive shares due to net loss available to holders of Common Stock	1.7			0.0
Total antidilutive stock options and shares	5.1			1.1