Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Computation of basic and diluted earnings per common share


Computation of basic and diluted earnings per common share
(In millions, except per share data)	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Numerator:
Net (loss) income from continuing operations	$	(1,024)	$	1,435	$	(378)	$	3,841
Less: Net (loss) income attributable to noncontrolling interest	(9)		6		(19)		—
Net (loss) income from continuing operations attributable to Allstate	(1,015)		1,429		(359)		3,841
Less: Preferred stock dividends	27		30		53		57
Net (loss) income from continuing operations applicable to common shareholders	(1,042)		1,399		(412)		3,784
Income (loss) from discontinued operations, net of tax	—		196		—		(3,597)
Net (loss) income applicable to common shareholders	$	(1,042)	$	1,595	$	(412)	$	187

Denominator:
Weighted average common shares outstanding	273.8		298.8		275.9		300.6
Effect of dilutive potential common shares (1):
Stock options	—		3.2		—		2.8
Restricted stock units (non-participating) and performance stock awards	—		1.3		—		1.5
Weighted average common and dilutive potential common shares outstanding	273.8		303.3		275.9		304.9

Earnings per common share applicable to common shareholders
Basic
Continuing operations	$	(3.81)	$	4.68	$	(1.49)	$	12.59
Discontinued operations	—		0.66		—		(11.97)
Total	$	(3.81)	$	5.34	$	(1.49)	$	0.62

Diluted (1)
Continuing operations	$	(3.81)	$	4.61	$	(1.49)	$	12.41
Discontinued operations	—		0.65		—		(11.80)
Total	$	(3.81)	$	5.26	$	(1.49)	$	0.61

Anti-dilutive options excluded from diluted earnings per common share	1.3		0.8		1.5		2.0

Weighted average dilutive potential common shares excluded due to net loss applicable to common shareholders (1)	3.2		—		3.5		—

(1)As a result of the net loss reported for the three and six month periods ended June 30, 2022, weighted average shares for basic earnings per share is also used for calculating diluted earnings per share because all dilutive potential common shares are anti-dilutive and are therefore excluded from the calculation.