Computation of Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share of Common Stock

The following table presents the Company’s computation of basic and diluted earnings per common share:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except share and per share amounts)	2023		2022		2023		2022
Net income available to common stockholders	$	405	$	163	$	2,403	$	310
Less: Dividends paid on and earnings allocated to participating securities	(4)		(2)		(26)		(4)
Earnings applicable to common stock	$	401	$	161	$	2,377	$	306
Weighted average common shares outstanding	722,264,568		465,811,096		704,685,721		465,476,526
Basic earnings per common share	$	0.55	$	0.34	$	3.37	$	0.66
Earnings applicable to common stock	$	401	$	161	$	2,377	$	306
Weighted average common shares outstanding	722,264,568		465,811,096		704,685,721		465,476,526
Potential dilutive common shares	1,462,426		988,976		1,411,524		899,249
Total shares for diluted earnings per common share computation	723,726,994		466,800,072		706,097,245		466,375,775
Diluted earnings per common share and common share equivalents	$	0.55	$	0.34	$	3.37	$	0.66