Earnings Per Common Share

12 Months Ended

Dec. 31, 2024

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:



		2024		2023		2022
	(In millions, except per share data)
Numerator:
Net income	Net income	$	1,893	$	2,074	$	2,245
Preferred stock dividends and other(1)		(119)		(98)		(99)


Net income available to common shareholders		$	1,774	$	1,976	$	2,146
Denominator:
Weighted-average common shares outstanding—basic		$	916	$	936	$	935
Potential common shares		2		2		7
Weighted-average common shares outstanding—diluted		$	918	$	938	942






Earnings per common share:
Basic		$	1.94	$	2.11	$	2.29
Diluted		$	1.93	$	2.11	$	2.28

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(1) Preferred stock dividends and other for the year ended December 31, 2024 included $15 million of issuance costs associated with the redemption of Series B preferred shares in the third quarter of 2024. See Note 14 for additional details.

The effects from the assumed exercise of restricted stock units and awards and performance stock units totaling 5 million, 6 million, and 4 million for years ended December 31, 2024, December 31, 2023, and December 31, 2022, respectively, 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.