AMERICAN INTERNATIONAL GROUP INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
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Earnings Per Common Share (EPS)
- 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, using the treasury stock method or the if-converted method, as applicable.
The following table presents the computation of basic and diluted EPS:
| Years Ended December 31, | |||
|---|---|---|---|
| (dollars in millions, except per common share data) | 2023 | 2022 | 2021 |
| Numerator for EPS: | |||
| Income (loss) from continuing operations | $3,878 | $11,274 | $10,906 |
| Less: Net income from continuing operations attributable to noncontrolling interests | 235 | 1,046 | 539 |
| Less: Preferred stock dividends | 29 | 29 | 29 |
| Income (loss) attributable to AIG common shareholders from continuing operations | 3,614 | 10,199 | 10,338 |
| Income (loss) from discontinued operations, net of income tax expense | — | (1) | — |
| Net income (loss) attributable to AIG common shareholders | $3,614 | $10,198 | $10,338 |
| Denominator for EPS: | |||
| Weighted average common shares outstanding - basic | 719,506,291 | 778,621,118 | 854,320,449 |
| Dilutive common shares | 5,726,777 | 9,320,632 | 10,564,430 |
| Weighted average common shares outstanding - diluted(a) | 725,233,068 | 787,941,750 | 864,884,879 |
| Income (loss) per common share attributable to AIG common shareholders: | |||
| Basic: | |||
| Income (loss) from continuing operations | $5.02 | $13.10 | $12.10 |
| Income from discontinued operations | $— | $— | $— |
| Income (loss) attributable to AIG common shareholders | $5.02 | $13.10 | $12.10 |
| Diluted: | |||
| Income (loss) from continuing operations | $4.98 | $12.94 | $11.95 |
| Income from discontinued operations | $— | $— | $— |
| Income (loss) attributable to AIG common shareholders | $4.98 | $12.94 | $11.95 |
(a)Potential dilutive common shares include our share-based employee compensation plans and an option for Blackstone to exchange all or a portion of its ownership interest in Corebridge for AIG common shares in the event an IPO did not occur prior to 2024. As a result of the consummation of the IPO on September 19, 2022, this exchange right of Blackstone was terminated. The number of potential common shares excluded from diluted shares outstanding was 4.4 million,24.1 million and 12.0 million for the years ended December 31, 2023, 2022 and 2021, respectively, because the effect of including those common shares in the calculation would have been anti-dilutive.
For information regarding our repurchases of AIG Common Stock, see Note 18.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.