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Computation of Earnings per Common Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Computation of Basic and Diluted EPS The following table presents the Company’s computation of basic and diluted EPS for the periods indicated:

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

(in millions, except share and per share amounts)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income available to common stockholders

 

$

163

 

 

$

144

 

 

$

310

 

 

$

281

 

Less: Dividends paid on and earnings allocated
   to participating securities

 

 

(2

)

 

 

(3

)

 

 

(4

)

 

 

(4

)

Earnings applicable to common stock

 

$

161

 

 

$

141

 

 

$

306

 

 

$

277

 

Weighted average common shares outstanding

 

 

465,811,096

 

 

 

464,092,947

 

 

 

465,476,526

 

 

 

463,695,136

 

Basic earnings per common share

 

$

0.34

 

 

$

0.30

 

 

$

0.66

 

 

$

0.60

 

Earnings applicable to common stock

 

$

161

 

 

$

141

 

 

$

306

 

 

$

277

 

Weighted average common shares outstanding

 

 

465,811,096

 

 

 

464,092,947

 

 

 

465,476,526

 

 

 

463,695,136

 

Potential dilutive common shares

 

 

988,976

 

 

 

801,591

 

 

 

899,249

 

 

 

698,385

 

Total shares for diluted earnings per common
   share computation

 

 

466,800,072

 

 

 

464,894,538

 

 

 

466,375,775

 

 

 

464,393,521

 

Diluted earnings per common share and
   common share equivalents

 

$

0.34

 

 

$

0.30

 

 

$

0.66

 

 

$

0.60