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Earnings Per Common Share (EPS) | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Common Share (EPS) | Earnings Per Common Share (EPS) The computations of basic and diluted EPS for the three months ended March 31 were as follows: Table 14.1: Computation of Basic and Diluted Earnings per Share
|  | Three Months Ended March 31, |  |
(Millions, except per share amounts) |  | 2025 |  | 2024 |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Basic and diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 2,584 |  |  | $ | 2,437 |  |  |  |  |
Preferred dividends |  | (14) |  |  | (14) |  |  |  |  |
Net income available to common shareholders |  | $ | 2,570 |  |  | $ | 2,423 |  |  |  |  |
Earnings allocated to participating share awards (a) |  | (18) |  |  | (18) |  |  |  |  |
Net income attributable to common shareholders |  | $ | 2,552 |  |  | $ | 2,405 |  |  |  |  |
Denominator:(a) |  |  |  |  |  |  |  |
Basic: Weighted-average common stock |  | 701 |  |  | 721 |  |  |  |  |
Add: Weighted-average stock options (b) |  | 1 |  |  | 1 |  |  |  |  |
Diluted |  | 702 |  |  | 722 |  |  |  |  |
Basic EPS |  | $ | 3.64 |  |  | $ | 3.34 |  |  |  |  |
Diluted EPS |  | $ | 3.64 |  |  | $ | 3.33 |  |  |  |  |
(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 months ended March 31, 2025 and 2024, because inclusion of the options would have been anti-dilutive.

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