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Earnings Per Common Share (EPS) (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Computation of basic and diluted EPS | The computations of basic and diluted EPS for the three and nine months ended September 30 were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Millions, except per share amounts) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |  |
Basic and diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 2,507 |  |  | $ | 2,451 |  |  | $ | 7,959 |  |  | $ | 6,441 |
Preferred dividends |  | (15) |  |  | (14) |  |  | (44) |  |  | (43) |
Net income available to common shareholders |  | $ | 2,492 |  |  | $ | 2,437 |  |  | $ | 7,915 |  |  | $ | 6,398 |
Earnings allocated to participating share awards (a) |  | (18) |  |  | (19) |  |  | (59) |  |  | (50) |
Net income attributable to common shareholders |  | $ | 2,474 |  |  | $ | 2,418 |  |  | $ | 7,856 |  |  | $ | 6,348 |
Denominator:(a) |  |  |  |  |  |  |  |
Basic: Weighted-average common stock |  | 708 |  |  | 732 |  |  | 715 |  |  | 738 |
Add: Weighted-average stock options (b) |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Diluted |  | 709 |  |  | 733 |  |  | 716 |  |  | 739 |
Basic EPS |  | $ | 3.50 |  |  | $ | 3.30 |  |  | $ | 10.99 |  |  | $ | 8.60 |
Diluted EPS |  | $ | 3.49 |  |  | $ | 3.30 |  |  | $ | 10.97 |  |  | $ | 8.59 |
(a)Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator. (b)The dilutive effect of unexercised stock options excludes from the computation of EPS 0.1 million of options for both the three and nine months ended September 30, 2024 and 1.4 million of options for both the three and nine months ended September 30, 2023, because inclusion of the options would have been anti-dilutive.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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