Computation of basic and diluted EPS |
Years Ended December 31, | | | | | | | (dollars in millions, except per share data) | | 2018 | | 2017 | | 2016 | Numerator for EPS: | | | | | | | Income (loss) from continuing operations | $ | 103 | $ | (6,060) | $ | (259) | Less: Net income from continuing operations attributable to noncontrolling interests | | 67 | | 28 | | 500 | Income (loss) attributable to AIG common shareholders from continuing operations | | 36 | | (6,088) | | (759) | Income (loss) from discontinued operations, net of income tax expense | | (42) | | 4 | | (90) | Net loss attributable to AIG common shareholders | $ | (6) | $ | (6,084) | $ | (849) | Denominator for EPS: | | | | | | | Weighted average shares outstanding — basic | | 898,405,537 | | 930,561,286 | | 1,091,085,131 | Dilutive shares | | 11,735,705 | | - | | - | Weighted average shares outstanding — diluted(a)(b) | | 910,141,242 | | 930,561,286 | | 1,091,085,131 | Income (loss) per common share attributable to AIG: | | | | | | | Basic: | | | | | | | Income (loss) from continuing operations | $ | 0.04 | $ | (6.54) | $ | (0.70) | Loss from discontinued operations | $ | (0.05) | $ | - | $ | (0.08) | Loss attributable to AIG | $ | (0.01) | $ | (6.54) | $ | (0.78) | Diluted: | | | | | | | Income (loss) from continuing operations | $ | 0.04 | $ | (6.54) | $ | (0.70) | Loss from discontinued operations | $ | (0.05) | $ | - | $ | (0.08) | Loss attributable to AIG | $ | (0.01) | $ | (6.54) | $ | (0.78) |
(a) Shares in the diluted EPS calculation represent basic shares for 2017 and 2016 due to the net losses in those periods. The shares excluded from the calculation were 22,412,682 shares and 30,326,772 shares for the years ended December 31, 2017 and 2016, respectively. (b) Dilutive shares included 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 were 19.6 million, 1.7 million and 0.2 million for the years ended December 31, 2018, 2017 and 2016, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.
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