EARNINGS PER SHARE INFORMATION

9 Months Ended

Sep. 30, 2024


Three months ended September 30	2024				2023
(Earnings for per-share calculation, shares in millions, per-share amounts in dollars)	Diluted		Basic		Diluted		Basic
Earnings (loss) from continuing operations	$	1,705	$	1,705	$	306	$	306
Preferred stock dividends and other(a)	—		—		(91)		(91)


Earnings (loss) from continuing operations attributable to common shareholders	1,705		1,705		215		215
Earnings (loss) from discontinued operations	147		147		46		46
Net earnings (loss) attributable to common shareholders	1,852		1,852		261		261

Shares of common stock outstanding	1,083		1,083		1,088		1,088
Employee compensation-related shares (including stock options)	9		—		11		—
Total average equivalent shares	1,093		1,083		1,099		1,088

Earnings (loss) per share from continuing operations	$	1.56	$	1.57	$	0.20	$	0.20
Earnings (loss) per share from discontinued operations	0.13		0.14		0.04		0.04
Net earnings (loss) per share	1.70		1.71		0.24		0.24

Potentially dilutive securities(b)	3				21


Nine months ended September 30	2024				2023
(Earnings for per-share calculation, shares in millions, per-share amounts in dollars)	Diluted		Basic		Diluted		Basic
Earnings (loss) from continuing operations	$	4,766	$	4,766	$	8,261	$	8,264
Preferred stock dividends and other(a)	—		—		(295)		(295)


Earnings (loss) from continuing operations attributable to common shareholders	4,766		4,766		7,966		7,969
Earnings (loss) from discontinued operations	(108)		(108)		(371)		(371)
Net earnings (loss) attributable to common shareholders	4,657		4,657		7,595		7,599

Shares of common stock outstanding	1,087		1,087		1,089		1,089
Employee compensation-related shares (including stock options)	11		—		9		—
Total average equivalent shares	1,098		1,087		1,098		1,089

Earnings (loss) per share from continuing operations	$	4.34	$	4.38	$	7.25	$	7.32
Earnings (loss) per share from discontinued operations	(0.10)		(0.10)		(0.34)		(0.34)
Net earnings (loss) per share	4.24		4.28		6.92		6.98

Potentially dilutive securities(b)	7				29

(a) For the three and nine months ended September 30, 2023, included $(28) million and $(58) million, respectively, related to excise tax on preferred share redemptions.

(b) Outstanding stock awards not included in the computation of diluted earnings per share because their effect was antidilutive.

Our unvested restricted stock unit awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and historically have been included in the calculation pursuant to the two-class method. For the three and nine months ended September 30, 2024, such participating securities had an insignificant effect. Effective the second quarter of 2024, the Company calculates earnings per share using the treasury stock method. For the three and nine months ended September 30, 2023, application of two-class method treatment had an insignificant effect.