Income and Dividends per Common Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Income and Dividends per Common Share

Income and Dividends per Common Share

Basic income per share is based on the weighted average number of common shares outstanding. Diluted income per share assumes exercise of stock options in all periods, provided the effect is not antidilutive. The per share calculations below exclude 1 million and 2 million of antidilutive stock options for the three months ended March 31, 2023 and 2022, respectively.

	Three Months Ended March 31,
(In millions, except per share data)	2023		2022
Net income	$	417	$	1,304
Weighted average common shares outstanding	628		730
Effect of dilutive securities	1		2
Weighted average common shares, diluted	629		732
Net income per share:
Basic	$	0.66	$	1.79
Diluted	$	0.66	$	1.78
Dividends per share	$	0.10	$	0.07