EARNINGS PER COMMON SHARE (EPS) (Tables)

9 Months Ended

Sep. 30, 2020

EARNINGS PER COMMON SHARE (EPS)

Computation of basic and diluted EPS

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in millions, except per common share data)		2020		2019		2020		2019
Numerator for EPS:
Income (loss) from continuing operations	$	294	$	973	$	(5,817)	$	3,301
Less: Net income from continuing operations attributable to noncontrolling interests		11		317		78		881
Less: Preferred stock dividends		7		8		22		15
Income (loss) attributable to AIG common shareholders
from continuing operations		276		648		(5,917)		2,405
Income (loss) from discontinued operations, net of income tax expense		5		-		4		(1)
Net income (loss) attributable to AIG common shareholders	$	281	$	648	$	(5,913)	$	2,404
Denominator for EPS:
Weighted average common shares outstanding — basic		867,713,308		877,009,495		869,627,926		876,262,372
Dilutive common shares		5,417,642		18,804,915		-		10,958,744
Weighted average common shares outstanding — diluted(a)(b)		873,130,950		895,814,410		869,627,926		887,221,116
Income (loss) per common share attributable to AIG common
shareholders:
Basic:
Income (loss) from continuing operations	$	0.31	$	0.74	$	(6.80)	$	2.74
Income from discontinued operations	$	0.01	$	-	$	-	$	-
Income (loss) attributable to AIG common shareholders	$	0.32	$	0.74	$	(6.80)	$	2.74
Diluted:
Income (loss) from continuing operations	$	0.31	$	0.72	$	(6.80)	$	2.71
Income from discontinued operations	$	0.01	$	-	$	-	$	-
Income (loss) attributable to AIG common shareholders	$	0.32	$	0.72	$	(6.80)	$	2.71

(a) Shares in the diluted EPS calculation represent basic shares for the nine-month period ended September 30, 2020 due to the net loss in that period. The number of common shares excluded from the calculation was 4,432,369 shares for the nine-month period ended September 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 and expire in January 2021. The number of common shares excluded from diluted shares outstanding was 70.9 million and 68.9 million for the three- and nine-month periods ended September 30, 2020, respectively, and 5.1 million and 24.9 million for the three- and nine-month periods ended September 30, 2019, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.