Earnings (Loss) per Common Share

12 Months Ended

Dec. 31, 2023

NOTE 15. EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share for the years ended December 31:



		2023		2022		2021
	(In millions, except per share data)
Numerator:
Net income	Net income	$	2,074	$	2,245	$	2,521
Preferred stock dividends and other (1)		(98)		(99)		(121)


Net income available to common shareholders		$	1,976	$	2,146	$	2,400
Denominator:
Weighted-average common shares outstanding—basic		$	936	$	935	$	956
Potential common shares		2		7		7
Weighted-average common shares outstanding—diluted		$	938	$	942	963






Earnings per common share:
Basic		$	2.11	$	2.29	$	2.51
Diluted		$	2.11	$	2.28	$	2.49

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(1)Preferred stock dividends and other for the year ended December 31, 2021 includes $13 million of issuance costs associated with the redemption of Series A preferred shares in 2021.

The effects from the assumed exercise of restricted stock units and awards and performance stock units totaling 6 million for year ended December 31, 2023 and 4 million for both years ended December 31, 2022 and December 31, 2021 were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.