Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Earnings Per Common and Diluted Share

The computations of basic and diluted earnings per common share were as follows.

Table 8.15.1

EARNINGS PER SHARE COMPUTATIONS

(Dollars in millions, except per share data; shares in thousands)	2024		2023		2022
Net income	$	794	$	916	$	912
Net income attributable to noncontrolling interest	19		19		12
Net income attributable to controlling interest	775		897		900
Preferred stock dividends	37		32		32
Net income available to common shareholders	$	738	$	865	$	868
Weighted average common shares outstanding—basic	540,317		548,410		535,033
Effect of dilutive restricted stock, performance equity awards and options	3,968		3,802		7,830
Effect of dilutive convertible preferred stock (a)	—		9,520		23,141
Weighted average common shares outstanding—diluted	544,285		561,732		566,004
Basic earnings per common share	$	1.37	$	1.58	$	1.62
Diluted earnings per common share	$	1.36	$	1.54	$	1.53
(a) On February 28, 2022, FHN issued $494 million of Series G Convertible Preferred Stock, which was converted into common stock on June 26, 2023, following the termination of the TD Merger Agreement. Conversion occurred at the rate of 4,000 common shares per Series G preferred share resulting in 19,742,776 additional common shares outstanding. 2023 includes the impact of the Series G based on the final conversion rate and 2022 includes the impact based on the original maximum conversion rate.

Schedule of Anti-Dilutive Options and Awards

The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher

than the weighted-average market price for the period) or the performance conditions have not been met.

Table 8.15.2

ANTI-DILUTIVE EQUITY AWARDS

(Shares in thousands)	2024		2023		2022
Stock options excluded from the calculation of diluted EPS	26		—		29
Weighted average exercise price of stock options excluded from the calculation of diluted EPS	$	19.73	$	24.36	$	25.64
Other equity awards excluded from the calculation of diluted EPS	2,439		2,242		144