Earnings per Common Share

12 Months Ended

Dec. 31, 2023

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)	2023		2022		2021
Net income from continuing operations	$	1,022	$	1,715	$	3,065
Preferred stock dividends — Series B	(63)		(63)		(36)
Preferred stock dividends — Series C	(47)		(47)		(21)
Net income from continuing operations attributable to common stockholders	$	912	$	1,605	$	3,008
Loss from discontinued operations, net of tax	(2)		(1)		(5)
Net income attributable to common stockholders	$	910	$	1,604	$	3,003
Basic weighted-average common shares outstanding (b)	303,751		316,690		362,583
Diluted weighted-average common shares outstanding (b)	305,135		318,629		365,180
Basic earnings per common share
Net income from continuing operations	$	3.00	$	5.07	$	8.30
Loss from discontinued operations, net of tax	(0.01)		—		(0.01)
Net income	$	3.00	$	5.06	$	8.28
Diluted earnings per common share
Net income from continuing operations	$	2.99	$	5.04	$	8.24
Loss from discontinued operations, net of tax	(0.01)		—		(0.01)
Net income	$	2.98	$	5.03	$	8.22

(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.