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Earnings per common share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings per common share | Earnings per common share The computations of basic earnings per common share follow:
| Year Ended December 31,
(Dollars in millions, except per share, shares in thousands) | 2024 |  | 2023 |  | 2022
Income available to common shareholders: |  |  |  |  |
Net income | $ | 2,588 |  |  | $ | 2,741 |  |  | $ | 1,992 |
Less: Preferred stock dividends | (134) |  |  | (100) |  |  | (97) |
Net income available to common equity | 2,454 |  |  | 2,641 |  |  | 1,895 |
Less: Income attributable to unvested stock-based compensation awards | (5) |  |  | (5) |  |  | (4) |
Net income available to common shareholders | $ | 2,449 |  |  | $ | 2,636 |  |  | $ | 1,891 |
Weighted-average shares outstanding: |  |  |  |  |
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 166,806 |  | 166,662 |  | 163,489
Less: Unvested stock-based compensation awards | (327) |  | (301) |  | (315)
Weighted-average shares outstanding | 166,479 |  | 166,361 |  | 163,174
Basic earnings per common share | $ | 14.71 |  |  | $ | 15.85 |  |  | $ | 11.59 |
The computations of diluted earnings per common share follow:
| Year Ended December 31,
(Dollars in millions, except per share, shares in thousands) | 2024 |  | 2023 |  | 2022
Net income available to common equity | $ | 2,454 |  |  | $ | 2,641 |  |  | $ | 1,895 |
Less: Income attributable to unvested stock-based compensation awards | (5) |  |  | (5) |  |  | (4) |
Net income available to common shareholders | $ | 2,449 |  |  | $ | 2,636 |  |  | $ | 1,891 |
Adjusted weighted-average shares outstanding: |  |  |  |  |
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards | 166,806 |  | 166,662 |  | 163,489
Less: Unvested stock-based compensation awards | (327) |  | (301) |  | (315)
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 840 |  | 641 |  | 856
Adjusted weighted-average shares outstanding | 167,319 |  | 167,002 |  | 164,030
Diluted earnings per common share | $ | 14.64 |  |  | $ | 15.79 |  |  | $ | 11.53 |
Stock-based compensation awards to purchase common stock of M&T representing common shares of 755,000 in 2024, 1,834,000 in 2023 and 453,000 in 2022 were not included in the computations of diluted earnings per common share because the effect on those years would have been antidilutive.

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