Earnings Per Share

3 Months Ended

Mar. 31, 2021

The following table provides the calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share:


	2021					2020
For the three months ended March 31, (in millions, except per share data)	Income		Average Shares	Per Share Amount		Income		Average Shares	Per Share Amount
Earnings Per Share:
Net income available to common shareholders	$	674				$	29
Less: Income allocated to participating securities	2					1
Net income allocated to common shareholders	$	672	714	$	0.94	$	28	714	$	0.04
Earnings Per Diluted Share:
Net income available to common shareholders	$	674				$	29
Effect of dilutive securities:
Stock-based awards	—		9			—		6
Net income available to common shareholders plus assumed conversions	674					29
Less: Income allocated to participating securities	2					1
Net income allocated to common shareholders plus assumed conversions	$	672	723	$	0.93	$	28	720	$	0.04

Shares are excluded from the computation of earnings per diluted share when their inclusion has an anti-dilutive effect on earnings per share. The diluted earnings per share computation for the three months ended March 31, 2021 and 2020 excludes an immaterial amount and 6 million shares, respectively, of stock-based awards because their inclusion would have been anti-dilutive.