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EARNINGS PER COMMON SHARE (EPS)
 6 Months Ended
Jun. 30, 2020
EARNINGS PER SHARE (EPS)  
EARNINGS PER SHARE (EPS)

13. Earnings Per Common Share (EPS)

The basic EPS computation is based on the weighted average number of common shares outstanding, adjusted to reflect all stock dividends and stock splits. The diluted EPS computation is based on those shares used in the basic EPS computation plus common shares that would have been outstanding assuming issuance of common shares for all dilutive potential common shares outstanding and adjusted to reflect all stock dividends and stock splits.

The following table presents the computation of basic and diluted EPS:

 

Three Months Ended

 

Six Months Ended

 

June 30,

 

June 30,

(dollars in millions, except per common share data)

 

2020

 

2019

 

 

2020

 

2019

Numerator for EPS:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

$

(7,765)

$

1,391

 

$

(6,111)

$

2,328

Less: Net income from continuing operations attributable to noncontrolling interests

 

162

 

281

 

 

67

 

564

Less: Preferred stock dividends

 

8

 

7

 

 

15

 

7

Income (loss) attributable to AIG common shareholders

 

 

 

 

 

 

 

 

 

from continuing operations

 

(7,935)

 

1,103

 

 

(6,193)

 

1,757

Loss from discontinued operations, net of income tax expense

 

(1)

 

(1)

 

 

(1)

 

(1)

Net income (loss) attributable to AIG common shareholders

$

(7,936)

$

1,102

 

$

(6,194)

$

1,756

Denominator for EPS:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding — basic

 

866,968,305

 

876,382,884

 

 

870,590,968

 

875,885,588

Dilutive common shares

 

-

 

11,942,158

 

 

-

 

7,035,659

Weighted average common shares outstanding — diluted(a)(b)

 

866,968,305

 

888,325,042

 

 

870,590,968

 

882,921,247

Income (loss) per common share attributable to AIG common

 

 

 

 

 

 

 

 

 

shareholders:

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

$

(9.15)

$

1.26

 

$

(7.11)

$

2.00

Income from discontinued operations

$

-

$

-

 

$

-

$

-

Income (loss) attributable to AIG common shareholders

$

(9.15)

$

1.26

 

$

(7.11)

$

2.00

Diluted:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

$

(9.15)

$

1.24

 

$

(7.11)

$

1.99

Income from discontinued operations

$

-

$

-

 

$

-

$

-

Income (loss) attributable to AIG common shareholders

$

(9.15)

$

1.24

 

$

(7.11)

$

1.99

(a)Shares in the diluted EPS calculation represent basic shares for the three- and six-month periods ended June 30, 2020 due to the net losses in those periods. The number of common shares excluded from the calculation was 3,226,882 shares and 3,939,732 shares, respectively, for the three- and six-month periods ended June 30, 2020.

(b)Dilutive common shares included our share-based employee compensation plans and a weighted average portion of the 10-year warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011. The number of common shares excluded from diluted shares outstanding was 68.6 million and 67.9 million for the three- and six-month periods ended June 30, 2020, respectively, and 5.4 million and 34.8 million for the three- and six-month periods ended June 30, 2019, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.

For information about our repurchases of AIG Common Stock see Note 12 herein.