EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock and impact of preferred stock redemption) available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, and distributions from deferred compensation plans. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive.

The calculation of basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollar amounts in millions, except per share data, share count in thousands)	2022		2021		2022		2021
Basic earnings per common share:
Net income attributable to Huntington Bancshares Inc	$	594	$	377	$	1,593	$	894
Preferred stock dividends	29		29		85		103
Impact of preferred stock redemption	—		15		—		15
Net income available to common shareholders	$	565	$	333	$	1,508	$	776
Average common shares issued and outstanding	1,442,591		1,462,736		1,440,740		1,201,763
Basic earnings per common share	$	0.39	$	0.23	$	1.05	$	0.65
Diluted earnings per common share:




Dilutive potential common shares:
Stock options and restricted stock units and awards	16,064		17,536		17,078		17,623
Shares held in deferred compensation plans	6,428		7,063		6,416		6,042


Dilutive potential common shares	22,492		24,599		23,494		23,665
Total diluted average common shares issued and outstanding	1,465,083		1,487,335		1,464,234		1,225,428
Diluted earnings per common share	$	0.39	$	0.22	$	1.03	$	0.63
Anti-dilutive awards (1)	7,121		4,609		5,565		4,410

(1)Reflects the total number of shares related to outstanding options and awards that have been excluded from the computation of diluted earnings per share because the impact would have been anti-dilutive.