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.
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