Earnings per Common Share

9 Months Ended

Sep. 30, 2025


Note 2			Earnings per Common Share

Basic earnings per common share is computed using the weighted average number of common shares outstanding, including vested unissued participating restricted stock units. Diluted earnings per common share is computed using the weighted average number of common and dilutive potential common shares outstanding.

For the Company, dilutive potential common shares consist of outstanding stock options, unvested

non-participating restricted stock units and contingently issuable performance stock awards. The effect of dilutive potential common shares does not include share-based awards with an anti-dilutive effect on earnings per common share, primarily options, where exercise prices exceed the average market price of Allstate common shares during the period or for which the unrecognized compensation cost would have an anti-dilutive effect.


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,
	2025		2024		2025		2024
Numerator:
Net income	$	3,744	$	1,164	$	6,439	$	2,709
Less: Net loss attributable to noncontrolling interest	(2)		(26)		(11)		(30)
Net income attributable to Allstate	3,746		1,190		6,450		2,739
Less: Preferred stock dividends	29		29		88		88


Net income applicable to common shareholders	$	3,717	$	1,161	$	6,362	$	2,651

Denominator:
Weighted average common shares outstanding	263.1		264.6		264.3		264.1
Effect of dilutive potential common shares:
Stock options	2.3		2.6		2.5		2.6
Restricted stock units (non-participating) and performance stock awards	1.0		0.8		1.0		0.7
Weighted average common and dilutive potential common shares outstanding	266.4		268.0		267.8		267.4

Earnings per common share - Basic	$	14.13	$	4.39	$	24.07	$	10.04
Earnings per common share - Diluted	$	13.95	$	4.33	$	23.76	$	9.91

Anti-dilutive share-based awards excluded from diluted earnings per common share	0.5		0.6		0.4		0.5