Computation of Earnings per Common Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
(in millions, except share and per share amounts)	2023		2022		2023		2022
Net income available to common stockholders	$	199	$	144	$	2,601	$	453
Less: Dividends paid on and earnings allocated to participating securities	(2)		(2)		(27)		(6)
Earnings applicable to common stock	$	197	$	142	$	2,574	$	447
Weighted average common shares outstanding	722,486,509		465,115,180		710,684,522		465,354,754
Basic earnings per common share	$	0.27	$	0.31	$	3.62	$	0.96
Earnings applicable to common stock	$	197	$	142	$	2,574	$	447
Weighted average common shares outstanding	722,486,509		465,115,180		710,684,522		465,354,754
Potential dilutive common shares	2,426,381		979,177		1,753,527		926,184
Total shares for diluted earnings per common share computation	724,912,890		466,094,357		712,438,049		466,280,938
Diluted earnings per common share and common share equivalents	$	0.27	$	0.30	$	3.61	$	0.96