Earnings Per Share

6 Months Ended

Jun. 30, 2021

The computations of basic and diluted earnings per common share were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions, except per share data; shares in thousands)	2021		2020		2021		2020
Net income	$	311	$	57	$	546	$	73
Net income attributable to noncontrolling interest	3		3		6		6
Net income attributable to controlling interest	308		54		540		67
Preferred stock dividends	13		2		21		3
Net income available to common shareholders	$	295	$	52	$	519	$	64

Weighted average common shares outstanding—basic	550,297		312,090		551,268		311,843
Effect of dilutive securities	6,466		846		5,878		949
Weighted average common shares outstanding—diluted	556,763		312,936		557,146		312,792

Basic earnings per common share	$	0.54	$	0.17	$	0.94	$	0.21
Diluted earnings per common share	$	0.53	$	0.17	$	0.93	$	0.21

The following table presents average outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met:


	Three Months Ended June 30,				Six Months Ended June 30,
(Shares in thousands)	2021		2020		2021		2020
Stock options excluded from the calculation of diluted EPS	1,516		5,134		1,544		3,291
Weighted average exercise price of stock options excluded from the calculation of diluted EPS	$	20.98	$	15.80	$	20.97	$	18.26
Other equity awards excluded from the calculation of diluted EPS	1,379		4,389		1,387		3,934