Earnings (Loss) Per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of basic and diluted earnings (loss) per common share

Basic and diluted earnings (loss) per common share for the years ended December 31, 2021, 2020 and 2019 were calculated as follows:


	Years Ended December 31,
	2021		2020	2019
	(Dollars in millions, except per share amounts, shares in thousands)
Income (Loss) (Numerator)
Net Income (Loss)	$	2,033	(1,232)	(5,269)
Net income (loss) applicable to common stock for computing basic earnings (loss) per common share	2,033		(1,232)	(5,269)
Net income (loss) as adjusted for purposes of computing diluted earnings (loss) per common share	$	2,033	(1,232)	(5,269)
Shares (Denominator):
Weighted average number of shares:
Outstanding during period	1,077,393		1,096,284	1,088,730
Non-vested restricted stock	(17,852)		(17,154)	(17,289)
Weighted average shares outstanding for computing basic earnings (loss) per common share	1,059,541		1,079,130	1,071,441
Incremental common shares attributable to dilutive securities:
Shares issuable under convertible securities	10		—	—
Shares issuable under incentive compensation plans	7,227		—	—
Number of shares as adjusted for purposes of computing diluted earnings (loss) per common share	1,066,778		1,079,130	1,071,441
Basic earnings (loss) per common share	$	1.92	(1.14)	(4.92)
Diluted earnings (loss) per common share(1)	$	1.91	(1.14)	(4.92)

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(1)For the years ended December 31, 2020 and December 31, 2019, we excluded from the calculation of diluted loss per share 5.3 million shares and 3.0 million shares, respectively, potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive.