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EARNINGS PER COMMON SHARE (EPS) (Tables)
12 Months Ended
Dec. 31, 2021
EARNINGS PER COMMON SHARE (EPS)  
Computation of basic and diluted EPS

Years Ended December 31,

 

 

 

 

 

 

(dollars in millions, except per common share data)

 

2021

 

2020

 

2019

Numerator for EPS:

 

 

 

 

 

 

Income (loss) from continuing operations

$

9,923

$

(5,833)

$

4,121

Less: Net income from continuing operations attributable to noncontrolling interests

 

535

 

115

 

821

Less: Preferred stock dividends

 

29

 

29

 

22

Income (loss) attributable to AIG common shareholders from continuing operations

 

9,359

 

(5,977)

 

3,278

Income from discontinued operations, net of income tax expense

 

-

 

4

 

48

Net income (loss) attributable to AIG common shareholders

$

9,359

$

(5,973)

$

3,326

Denominator for EPS:

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

854,320,449

 

869,309,458

 

876,750,264

Dilutive common shares

 

10,564,430

 

-

 

12,761,682

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

 

864,884,879

 

869,309,458

 

889,511,946

Income (loss) per common share attributable to AIG common shareholders:

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

Income (loss) from continuing operations

$

10.95

$

(6.88)

$

3.74

Income from discontinued operations

$

-

$

-

$

0.05

Income (loss) attributable to AIG common shareholders

$

10.95

$

(6.88)

$

3.79

Diluted:

 

 

 

 

 

 

Income (loss) from continuing operations

$

10.82

$

(6.88)

$

3.69

Income from discontinued operations

$

-

$

-

$

0.05

Income (loss) attributable to AIG common shareholders

$

10.82

$

(6.88)

$

3.74

(a)For the year ended December 31, 2020, because we reported a net loss attributable to AIG common shareholders, all common stock equivalents are anti-dilutive and are therefore excluded from the calculation of diluted shares and diluted per share amounts. The number of common shares excluded from the calculation was 5,401,597 shares.(b)Potential dilutive common shares include our share-based employee compensation plans, a weighted average portion of the 10-year warrants issued to AIG shareholders as part of AIG’s recapitalization in January 2011, which expired in January 2021 and an option for Blackstone to exchange all or a portion of its ownership interest in SAFG for AIG common shares. The number of common shares excluded from diluted shares outstanding was 12.0 million, 68.7 million and 20.0 million for the years ended December 31, 2021, 2020 and 2019, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.