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Earnings per common share (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Computations of Basic Earnings Per Common Share | The computations of basic earnings per common share follow:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in millions, except per share, shares in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Income available to common shareholders: |  |  |  |  |  |  |
Net income | $ | 655 |  |  | $ | 867 |  |  | $ | 1,186 |  |  | $ | 1,569 |
Less: Preferred stock dividends | (27) |  |  | (25) |  |  | (52) |  |  | (50) |
Net income available to common equity | 628 |  |  | 842 |  |  | 1,134 |  |  | 1,519 |
Less: Income attributable to unvested stock-based compensation awards | (2) |  |  | (1) |  |  | (3) |  |  | (3) |
Net income available to common shareholders | $ | 626 |  |  | $ | 841 |  |  | $ | 1,131 |  |  | $ | 1,516 |
Weighted-average shares outstanding: |  |  |  |  |  |  |
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 167,282 |  |  | 166,152 |  | 167,010 |  |  | 167,076
Less: Unvested stock-based compensation awards | (331) |  |  | (310) |  | (305) |  |  | (294)
Weighted-average shares outstanding | 166,951 |  | 165,842 |  | 166,705 |  | 166,782
Basic earnings per common share | $ | 3.75 |  |  | $ | 5.07 |  |  | $ | 6.79 |  |  | $ | 9.09 |
Computations of Diluted Earnings Per Common Share | The computations of diluted earnings per common share follow:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in millions, except per share, shares in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income available to common equity | $ | 628 |  |  | $ | 842 |  |  | $ | 1,134 |  |  | $ | 1,519 |
Less: Income attributable to unvested stock-based compensation awards | (2) |  |  | (1) |  |  | (3) |  |  | (3) |
Net income available to common shareholders | $ | 626 |  |  | $ | 841 |  |  | $ | 1,131 |  |  | $ | 1,516 |
Adjusted weighted-average shares outstanding: |  |  |  |  |  |  |
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 167,282 |  |  | 166,152 |  | 167,010 |  |  | 167,076
Less: Unvested stock-based compensation awards | (331) |  |  | (310) |  | (305) |  |  | (294)
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 708 |  |  | 478 |  | 667 |  |  | 577
Adjusted weighted-average shares outstanding | 167,659 |  | 166,320 |  | 167,372 |  | 167,359
Diluted earnings per common share | $ | 3.73 |  |  | $ | 5.05 |  |  | $ | 6.76 |  |  | $ | 9.06 |

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