Earnings Per Share

6 Months Ended

Jun. 30, 2021

The following tables provide 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 June 30, (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				$	163
Less: Income allocated to participating securities	1					1
Net income allocated to common shareholders	$	673	709	$	0.95	$	162	715	$	0.23
Earnings Per Diluted Share:
Net income available to common shareholders	$	674				$	163
Effect of dilutive securities:
Stock-based awards	—		9			—		3
Net income available to common shareholders plus assumed conversions	$	674				$	163
Less: Income allocated to participating securities	1					1
Net income allocated to common shareholders plus assumed conversions	$	673	718	$	0.94	$	162	718	$	0.23


	2021					2020
For the six months ended June 30, (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	$	1,348				$	193
Less: Income allocated to participating securities	4					2
Net income allocated to common shareholders	$	1,344	712	$	1.89	$	191	714	$	0.27
Earnings Per Diluted Share:
Net income available to common shareholders	$	1,348				$	193
Effect of dilutive securities:
Stock-based awards	—		9			—		5
Net income available to common shareholders plus assumed conversions	$	1,348				$	193
Less: Income allocated to participating securities	4					2
Net income allocated to common shareholders plus assumed conversions	$	1,344	721	$	1.87	$	191	719	$	0.27

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 both the three and six months ended June 30, 2021 excludes an immaterial amount of stock-based awards because their inclusion would have been anti-dilutive. The diluted earnings per share computation for the three and six months ended June 30, 2020 excludes 12 million and 9 million shares, respectively, of stock-based awards because their inclusion would have been anti-dilutive.