Earnings (Loss) per Common Share

12 Months Ended

Dec. 31, 2021

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share for the years ended December 31:



	2021		2020		2019
	(In millions, except per share data)
Numerator:
Net income	$	2,521	$	1,094	$	1,582
Preferred stock dividends and other(1)	(121)		(103)		(79)


Net income available to common shareholders	$	2,400	$	991	$	1,503
Denominator:
Weighted-average common shares outstanding—basic	956		959		995
Potential common shares	7		3		4
Weighted-average common shares outstanding—diluted	963		962		999






Earnings per common share:
Basic	$	2.51	$	1.03	$	1.51
Diluted	2.49		1.03		1.50

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(1)Preferred stock dividends and other for the year ended December 31, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares in the second quarter of 2021.

The effect from the assumed exercise of 4 million in restricted stock units and awards and performance stock units for the year ended December 31, 2021 was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share. The effects from the assumed exercise of 7 million in stock options, restricted stock units and awards and performance stock units for both years ended December 31, 2020 and 2019 were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.