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Earnings Per Share
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share
Note 16—Earnings Per Share
The following table presents the calculation of net income available to common shareholders and basic and diluted EPS. For the periods presented in the table below, diluted EPS calculated under the two-class method was more dilutive.

Millions of Dollars
(except per share amounts)
Three Months Ended
March 31
20232022
Basic earnings per share
Net Income$2,920 5,759
Less: Dividends and undistributed earnings
allocated to participating securities1115
Net Income available to common shareholders$2,909 $5,744
Average common shares outstanding (in Millions)1,2201,302
Net Income Per Share of Common Stock$2.38 4.41
Diluted earnings per share
Net Income available to common shareholders$2,909 5,744
Average common shares outstanding (in Millions)1,2201,302
Add: Dilutive impact of options and unvested
non-participating RSU/PSUs (in Millions)35
Average diluted shares outstanding (in Millions)1,2231,307
Net Income Per Share of Common Stock$2.38 4.39