Earnings per Common Share

9 Months Ended

Sep. 30, 2023

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


	Three months ended September 30,				Nine months ended September 30,
($ in millions, except per share data; shares in thousands) (a)	2023		2022		2023		2022
Net income from continuing operations	$	296	$	300	$	945	$	1,437
Preferred stock dividends — Series B	(16)		(16)		(48)		(48)
Preferred stock dividends — Series C	(11)		(11)		(35)		(35)
Net income from continuing operations attributable to common stockholders	$	269	$	273	$	862	$	1,354
Loss from discontinued operations, net of tax	—		(1)		(1)		(1)
Net income attributable to common stockholders	$	269	$	272	$	861	$	1,353
Basic weighted-average common shares outstanding (b)	304,134		308,220		303,497		321,884
Diluted weighted-average common shares outstanding (b)	305,693		310,086		304,601		323,875
Basic earnings per common share
Net income from continuing operations	$	0.88	$	0.88	$	2.84	$	4.20
Loss from discontinued operations, net of tax	—		—		(0.01)		—
Net income	$	0.88	$	0.88	$	2.84	$	4.20
Diluted earnings per common share
Net income from continuing operations	$	0.88	$	0.88	$	2.83	$	4.18
Loss from discontinued operations, net of tax	—		—		(0.01)		—
Net income	$	0.88	$	0.88	$	2.83	$	4.18

(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.