Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of 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,
	2024		2023		2024		2023
Numerator:
Net income (loss)	$	1,164	$	(4)	$	2,709	$	(1,700)
Less: Net (loss) income attributable to noncontrolling interest	(26)		1		(30)		(23)
Net income (loss) attributable to Allstate	1,190		(5)		2,739		(1,677)
Less: Preferred stock dividends	29		36		88		99
Net income (loss) applicable to common shareholders	$	1,161	$	(41)	$	2,651	$	(1,776)
Denominator:
Weighted average common shares outstanding	264.6		261.8		264.1		262.6
Effect of dilutive potential common shares (1):
Stock options	2.6		—		2.6		—
Restricted stock units (non-participating) and performance stock awards	0.8		—		0.7		—
Weighted average common and dilutive potential common shares outstanding	268.0		261.8		267.4		262.6
Earnings per common share - Basic	$	4.39	$	(0.16)	$	10.04	$	(6.76)
Earnings per common share - Diluted (1)	$	4.33	$	(0.16)	$	9.91	$	(6.76)
Anti-dilutive options excluded from diluted earnings per common share	0.6		3.1		0.5		3.0
Weighted average dilutive potential common shares excluded due to net loss applicable to common shareholders (1)	—		1.5		—		1.9

(1)As a result of the net loss reported for the three and nine month periods ended September 30, 2023, 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.