Earnings Per Share Of Common Stock

3 Months Ended

Mar. 31, 2022

Basic EPS is computed using the weighted average number of common shares outstanding during the relevant period as the denominator. The denominator for diluted EPS of common stock reflects the weighted average of common shares outstanding plus the potential additional common shares that could result if dilutive securities and other agreements to issue common stock were exercised.

Diluted EPS reflects the dilutive effect of potential common shares from share-based awards. The dilutive effect of outstanding share-based awards was computed using the treasury stock method, which assumes any proceeds that could be obtained upon the exercise of the award would be used to purchase common stock at the average market price for the period.

The following table reconciles basic and diluted EPS of common stock:


	For the Three Months Ended March 31,
Reconciliation of Basic and Diluted EPS		2022		2021

(In millions, except per share amounts)










Net Income		$	288	$	335





Share count information:
Weighted average number of basic shares outstanding		570		543
Assumed exercise of dilutive stock options and awards		1		1

Weighted average number of diluted shares outstanding		571		544

EPS of Common Stock:



Basic EPS of common stock		$	0.51	$	0.62


Diluted EPS of common stock		$	0.50	$	0.62

For the three months ended March 31, 2022 and March 31, 2021, no shares from stock options and awards were excluded from the calculation of diluted shares outstanding, as their inclusion would have been antidilutive.