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Net Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Basic and diluted net earnings per common share based on the weighted average outstanding shares are summarized as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions, except shares and per share amounts)2021202020212020
Basic:
Net income$354 $66 $676 $80 
Less common and preferred dividends65 66 129 130 
Less impact from redemption of preferred stock— — 
Undistributed earnings286 — 544 (50)
Less undistributed earnings applicable to nonvested shares— — 
Undistributed earnings applicable to common shares284 — 539 (50)
Distributed earnings applicable to common shares56 56 111 112 
Total earnings applicable to common shares$340 $56 $650 $62 
Weighted average common shares outstanding (in thousands)162,742 163,542 163,144 163,843 
Net earnings per common share$2.08 $0.34 $3.98 $0.38 
Diluted:
Total earnings applicable to common shares$340 $56 $650 $62 
Weighted average common shares outstanding (in thousands)162,742 163,542 163,144 163,843 
Dilutive effect of common stock warrants (in thousands)— 723 — 4,012 
Dilutive effect of stock options (in thousands)312 160 324 277 
Weighted average diluted common shares outstanding (in thousands)
163,054 164,425 163,468 168,132 
Net earnings per common share$2.08 $0.34 $3.98 $0.37 
Schedule of Weighted Average Number of Shares The following schedule presents the weighted average stock awards that were anti-dilutive and not included in the calculation of diluted earnings per share:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands)2021202020212020
Restricted stock and restricted stock units1,374 1,321 1,394 1,357 
Stock options938 234 855