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Earnings Per Share Of Common Stock (Tables)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Reconciliation of Basic and Diluted Earnings Per Share
The following table reconciles basic and diluted EPS of common stock:
 
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
Reconciliation of Basic and Diluted EPS of Common Stock
 
2019

2018
 
2019
 
2018
 
 
 
 
 
 
 
(In millions, except per share amounts)
 
 
 
 
 
 
 
 
EPS of Common Stock
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
389

 
$
399

 
$
1,085

 
$
888

Less: Preferred dividends
 
—

 
(19
)
 
(3
)
 
(61
)
Less: Amortization of beneficial conversion feature
 
—

 
(35
)
 
—

 
(296
)
Less: Undistributed earnings allocated to preferred stockholders(1)
 
—

 
—

 
(4
)
 
—

Income from continuing operations available to common stockholders
 
389

 
345

 
1,078

 
531

Discontinued operations, net of tax
 
2

 
(857
)
 
(62
)
 
322

Less: Undistributed earnings allocated to preferred stockholders (1)
 
 
—

 
—

 
—

 
—

Income (loss) from discontinued operations available to common stockholders
 
2

 
(857
)
 
(62
)
 
322

 
 
 
 
 
 
 
 
 
Income (loss) available to common stockholders, basic
 
$
391

 
$
(512
)
 
$
1,016

 
$
853

 
 
 
 
 
 
 
 
 
Income allocated to preferred shareholders, preferred dilutive (2)
 
—

 
N/A

 
7

 
N/A

 
 
 
 
 
 
 
 
 
Income (loss) available to common stockholders, dilutive
 
$
391

 
$
(512
)
 
$
1,023

 
$
853

 
 
 
 
 
 
 
 
 
Share Count information:
 
 
 
 
 
 
 
 
Weighted average number of basic shares outstanding
 
538

 
503

 
533

 
485

Assumed exercise of dilutive stock options and awards
 
2

 
2

 
2

 
2

Assumed conversion of preferred stock
 
2

 
—

 
6

 
—

Weighted average number of diluted shares outstanding
 
542

 
505

 
541

 
487

 
 
 
 
 
 
 
 
 
Income (loss) available to common stockholders, per common share:
 
 
 
 
 
 
 
 
Income from continuing operations, basic
 
$
0.72

 
$
0.68

 
$
2.02

 
$
1.10

Discontinued operations, basic
 
0.01

 
(1.70
)
 
(0.12
)
 
0.66

Income (loss) available to common stockholders, basic
 
$
0.73

 
$
(1.02
)
 
$
1.90

 
$
1.76

 
 
 
 
 
 
 
 
 
Income from continuing operations, diluted
 
$
0.72

 
$
0.68

 
$
2.00

 
$
1.09

Discontinued operations, diluted
 
—

 
(1.70
)
 
(0.11
)
 
0.66

Income (loss) available to common stockholders, diluted
 
$
0.72

 
$
(1.02
)
 
$
1.89

 
$
1.75



(1) 
Undistributed earnings were not allocated to participating securities for the three and nine months ended September 30, 2018, as well as the three months ended September 30, 2019, as income from continuing operations less dividends declared (common and preferred) and deemed dividends were a net loss.
(2) 
The shares of common stock issuable upon conversion of the preferred shares (26 million shares) were not included for 2018 as their inclusion would be anti-dilutive to basic EPS from continuing operations.