Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Computation of basic and diluted earnings per common share


Computation of basic and diluted earnings per common share
(In millions, except per share data)	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Numerator:
Net (loss) income from continuing operations	$	(683)	$	206	$	(1,061)	$	4,047
Less: Net loss attributable to noncontrolling interest	(15)		(7)		(34)		(7)
Net (loss) income from continuing operations attributable to Allstate	(668)		213		(1,027)		4,054
Less: Preferred stock dividends	26		30		79		87
Net (loss) income from continuing operations applicable to common shareholders	(694)		183		(1,106)		3,967
Income (loss) from discontinued operations, net of tax	—		325		—		(3,272)
Net (loss) income applicable to common shareholders	$	(694)	$	508	$	(1,106)	$	695

Denominator:
Weighted average common shares outstanding	268.7		293.1		273.5		298.1
Effect of dilutive potential common shares (1):
Stock options	—		3.1		—		2.9
Restricted stock units (non-participating) and performance stock awards	—		1.7		—		1.6
Weighted average common and dilutive potential common shares outstanding	268.7		297.9		273.5		302.6

Earnings per common share applicable to common shareholders
Basic
Continuing operations	$	(2.58)	$	0.62	$	(4.04)	$	13.31
Discontinued operations	—		1.11		—		(10.98)
Total	$	(2.58)	$	1.73	$	(4.04)	$	2.33

Diluted (1)
Continuing operations	$	(2.58)	$	0.62	$	(4.04)	$	13.11
Discontinued operations	—		1.09		—		(10.81)
Total	$	(2.58)	$	1.71	$	(4.04)	$	2.30

Anti-dilutive options excluded from diluted earnings per common share	2.4		0.6		1.6		1.3
Weighted average dilutive potential common shares excluded due to net loss applicable to common shareholders (1)	2.9		—		3.3		—

(1)As a result of the net loss reported for the three and nine month periods ended September 30, 2022, weighted average shares for basic earnings per share is also used for calculating diluted earnings per share because all dilutive potential common shares are anti-dilutive and are therefore excluded from the calculation.