EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

Basic earnings per share is the amount of earnings (adjusted for preferred stock dividends and the impact of preferred stock repurchases and redemptions) 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 was as follows:


	Three Months Ended				Six Months Ended
(dollar amounts in millions, except per share data, share count in thousands)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Basic earnings per common share:
Net income attributable to Huntington	$	474	$	559	$	893	$	1,161
Preferred stock dividends	35		40		71		69

Net income available to common shareholders	$	439	$	519	$	822	$	1,092
Average common shares issued and outstanding	1,451,207		1,446,372		1,449,850		1,444,820
Basic earnings per common share	$	0.30	$	0.36	$	0.57	$	0.76
Diluted earnings per common share:




Average dilutive potential common shares:
Stock options and restricted stock units and awards	15,407		12,212		16,401		15,913
Shares held in deferred compensation plans	7,645		7,136		7,546		6,767


Average dilutive potential common shares	23,052		19,348		23,947		22,680
Total diluted average common shares issued and outstanding	1,474,259		1,465,720		1,473,797		1,467,500
Diluted earnings per common share	$	0.30	$	0.35	$	0.56	$	0.74
Anti-dilutive awards (1)	7,319		15,413		8,380		12,226

(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.