EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

EARNINGS PER SHAREBasic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) 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 six-month periods ended June 30, 2023 and 2022 was as follows:


	Three months ended June 30,				Six months ended June 30,
(dollar amounts in millions, except per share data, share count in thousands)	2023		2022		2023		2022
Basic earnings per common share:
Net income attributable to Huntington	$	559	$	539	$	1,161	$	999
Preferred stock dividends	40		28		69		56

Net income available to common shareholders	$	519	$	511	$	1,092	$	943
Average common shares issued and outstanding	1,446,372		1,441,200		1,444,820		1,439,814
Basic earnings per common share	$	0.36	$	0.35	$	0.76	$	0.65
Diluted earnings per common share:




Average dilutive potential common shares:
Stock options and restricted stock units and awards	12,213		15,545		15,913		17,587
Shares held in deferred compensation plans	7,136		6,548		6,767		6,409


Average dilutive potential common shares	19,349		22,093		22,680		23,996
Total diluted average common shares issued and outstanding	1,465,720		1,463,293		1,467,500		1,463,810
Diluted earnings per common share	$	0.35	$	0.35	$	0.74	$	0.64
Anti-dilutive awards (1)	15,413		11,550		12,226		6,333

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