Earnings per Common Share

12 Months Ended

Dec. 31, 2021

The following table presents the calculation of basic and diluted earnings per common share.



Year ended December 31, ($ in millions, except per share data; shares in thousands) (a)	2021		2020		2019
Net income from continuing operations	$	3,065	$	1,086	$	1,721
Preferred stock dividends — Series B	(36)		—		—
Preferred stock dividends — Series C	(21)		—		—
Net income from continuing operations attributable to common stockholders	$	3,008	$	1,086	$	1,721
Loss from discontinued operations, net of tax	(5)		(1)		(6)
Net income attributable to common stockholders	$	3,003	$	1,085	$	1,715
Basic weighted-average common shares outstanding (b)	362,583		375,629		393,234
Diluted weighted-average common shares outstanding (b) (c)	365,180		377,101		395,395
Basic earnings per common share
Net income from continuing operations	$	8.30	$	2.89	$	4.38
Loss from discontinued operations, net of tax	(0.01)		—		(0.02)
Net income	$	8.28	$	2.89	$	4.36
Diluted earnings per common share
Net income from continuing operations	$	8.24	$	2.88	$	4.35
Loss from discontinued operations, net of tax	(0.01)		—		(0.02)
Net income	$	8.22	$	2.88	$	4.34

(a)Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.

(b)Includes shares related to share-based compensation that vested but were not yet issued.

(c)During the year ended December 31, 2020, there were 0.8 million in shares underlying share-based awards excluded because their inclusion would have been antidilutive. There were no antidilutive shares during the years ended December 31, 2021, and 2019.