Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

The following table presents the calculation of net income (loss) 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
	2025		2024
Basic earnings per share

Net Income (Loss)	$	2,849	2,551
Less: Dividends and undistributed earnings
allocated to participating securities	9		9
Net Income (Loss) available to common shareholders	$	2,840	2,542
Weighted-average common shares outstanding (in millions)	1,273		1,178

Net Income (Loss) Per Share of Common Stock	$	2.23	2.16

Diluted earnings per share

Net Income (Loss) available to common shareholders	$	2,840	2,542
Weighted-average common shares outstanding (in millions)	1,273		1,178
Add: Dilutive impact of options and unvested
non-participating RSU/PSUs (in millions)	2		2
Weighted-average diluted shares outstanding (in millions)	1,275		1,180

Net Income (Loss) Per Share of Common Stock	$	2.23	2.15