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Earnings per common share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings per common share


9. Earnings per common share
The computations of basic earnings per common share follow:
Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in millions, except per share, shares in thousands)2025202420252024
Income available to common shareholders:
Net income$792 $721 $2,092 $1,907 
Less: Preferred stock dividends(36)(47)(107)(99)
Net income available to common equity756 674 1,985 1,808 
Less: Income attributable to unvested stock-based compensation awards(2)— (4)(3)
Net income available to common shareholders$754 $674 $1,981 $1,805 
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards155,885 167,011 159,956 167,010
Less: Unvested stock-based compensation awards(327)(340)(325)(316)
Weighted-average shares outstanding155,558 166,671 159,631 166,694
Basic earnings per common share$4.85 $4.04 $12.41 $10.83 
The computations of diluted earnings per common share follow:
Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in millions, except per share, shares in thousands)2025202420252024
Net income available to common equity$756 $674 $1,985 $1,808 
Less: Income attributable to unvested stock-based compensation awards(2)— (4)(3)
Net income available to common shareholders$754 $674 $1,981 $1,805 
Adjusted weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards155,885 167,011 159,956 167,010
Less: Unvested stock-based compensation awards(327)(340)(325)(316)
Plus: Incremental shares from assumed conversion of stock-based compensation awards995 896 872 743
Adjusted weighted-average shares outstanding156,553 167,567 160,503167,437
Diluted earnings per common share$4.82 $4.02 $12.34 $10.78 
Stock-based compensation awards to purchase common stock of M&T representing common shares of 74,195 and 131,287 during the three-month and nine-month periods ended September 30, 2025, respectively, and common shares of 490,695 and 1,008,825 during the three-month and nine-month periods ended September 30, 2024, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.