Computation of basic and diluted EPS |
| | Three Months Ended | Nine Months Ended | | | September 30, | September 30, | (dollars in millions, except per share data) | | | 2016 | | 2015 | | 2016 | | 2015 | Numerator for EPS: | | | | | | | | | | Income (loss) from continuing operations | | $ | 433 | $ | (180) | $ | 2,211 | $ | 4,071 | Less: Net income (loss) from continuing operations attributable to noncontrolling interests | | | (26) | | 34 | | (35) | | 34 | Income (loss) attributable to AIG common shareholders from continuing operations | | | 459 | | (214) | | 2,246 | | 4,037 | Income (loss) from discontinued operations, net of income tax expense | | | 3 | | (17) | | (54) | | - | Net income (loss) attributable to AIG common shareholders | | | 462 | | (231) | | 2,192 | | 4,037 | Denominator for EPS: | | | | | | | | | | Weighted average shares outstanding - basic | | | 1,071,295,892 | | 1,279,072,748 | | 1,113,650,878 | | 1,324,407,969 | Dilutive shares(a) | | | 31,104,878 | | - | | 29,049,329 | | 32,700,815 | Weighted average shares outstanding - diluted(b) | | | 1,102,400,770 | | 1,279,072,748 | | 1,142,700,207 | | 1,357,108,784 | Income per common share attributable to AIG: | | | | | | | | | | Basic: | | | | | | | | | | Income (loss) from continuing operations | | $ | 0.43 | $ | (0.17) | $ | 2.02 | $ | 3.05 | Income (loss) from discontinued operations | | $ | - | $ | (0.01) | $ | (0.05) | $ | - | Income (loss) attributable to AIG | | $ | 0.43 | $ | (0.18) | $ | 1.97 | $ | 3.05 | Diluted: | | | | | | | | | | Income (loss) from continuing operations | | $ | 0.42 | $ | (0.17) | $ | 1.97 | $ | 2.97 | Income (loss) from discontinued operations | | $ | - | $ | (0.01) | $ | (0.05) | $ | - | Income (loss) attributable to AIG | | $ | 0.42 | $ | (0.18) | $ | 1.92 | $ | 2.97 |
(a) Shares in the diluted EPS calculation represent basic shares for the three-month period ended September 30, 2015 due to the net loss in that period. (b) Dilutive shares include our share-based employee compensation plans and a weighted average portion of the warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of shares excluded from diluted shares outstanding was 0.1 million and 0.2 million for the three- and nine-month periods ended September 30, 2016, respectively, and 0.1 million and 0.2 million for the three- and nine-month periods ended September 30, 2015, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.
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