Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2023

17. Earnings Per Common Share (EPS)

The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus common shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits, using the treasury stock method or the if-converted method, as applicable.

The following table presents the computation of basic and diluted EPS:


	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in millions, except per common share data)		2023		2022		2023		2022
Numerator for EPS:
Income from continuing operations	$	1,691	$	3,080	$	1,604	$	7,640
Less: Net income from continuing operations attributable to noncontrolling interests		198		325		81		712
Less: Preferred stock dividends		8		8		15		15
Income attributable to AIG common shareholders from continuing operations		1,485		2,747		1,508		6,913
Income (loss) from discontinued operations, net of income tax expense		—		(1)		—		(1)
Net income attributable to AIG common shareholders	$	1,485	$	2,746	$	1,508	$	6,912
Denominator for EPS:
Weighted average common shares outstanding - basic		725,754,549		790,897,301		732,175,533		803,532,447
Dilutive common shares		4,792,563		9,833,445		5,115,161		9,765,891
Weighted average common shares outstanding - diluted(a)		730,547,112		800,730,746		737,290,694		813,298,338
Income (loss) per common share attributable to AIG common shareholders:
Basic:
Income from continuing operations	$	2.05	$	3.47	$	2.06	$	8.60
Income from discontinued operations	$	—	$	—	$	—	$	—
Income attributable to AIG common shareholders	$	2.05	$	3.47	$	2.06	$	8.60
Diluted:
Income from continuing operations	$	2.03	$	3.43	$	2.05	$	8.50
Income from discontinued operations	$	—	$	—	$	—	$	—
Income attributable to AIG common shareholders	$	2.03	$	3.43	$	2.05	$	8.50

(a)Potential dilutive common shares include our share-based employee compensation plans and an option for Blackstone to exchange all or a portion of its ownership interest in Corebridge for AIG common shares in the event an IPO did not occur prior to 2024. As a result of the consummation of the IPO on September 19, 2022, this exchange right of Blackstone was terminated. The number of potential common shares excluded from diluted shares outstanding was 6.6 million and 5.5 million for the three and six months ended June 30, 2023, respectively, and 46.6 million and 46.2 million for the three and six months ended June 30, 2022, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.

For information regarding our repurchases of AIG Common Stock, see Note 16.