Earnings Per Share of Common Stock (Tables)

9 Months Ended

Sep. 30, 2024

Computation of basic and diluted earnings/(loss) per share

The following tables provide the computation of basic and diluted earnings per share of common stock for the three and nine months ended September 30, 2024 and 2023.


(Dollars in millions except per share amounts)
For the three months ended September 30:	2024		2023
Number of shares on which basic earnings per share is calculated:
Weighted-average shares outstanding during period	923,577,526		912,790,387
Add — Incremental shares under stock-based compensation plans	—		8,531,982
Add — Incremental shares associated with contingently issuable shares	—		2,350,932
Number of shares on which diluted earnings per share is calculated	923,577,526		923,673,300

Income/(loss) from continuing operations	$	(317)	$	1,714
(Loss) from discontinued operations, net of tax	(13)		(10)
Net income/(loss) on which basic earnings per share is calculated	$	(330)	$	1,704

Income/(loss) from continuing operations	$	(317)	$	1,714
Net income applicable to contingently issuable shares	—		—
Income/(loss) from continuing operations on which diluted earnings per share is calculated	$	(317)	$	1,714
(Loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated	(13)		(10)
Net income/(loss) on which diluted earnings per share is calculated	$	(330)	$	1,704

Earnings/(loss) per share of common stock:
Assuming dilution
Continuing operations	$	(0.34)	$	1.86
Discontinued operations	(0.01)		(0.01)
Total	$	(0.36)	$	1.84
Basic
Continuing operations	$	(0.34)	$	1.88
Discontinued operations	(0.01)		(0.01)
Total	$	(0.36)	$	1.87


(Dollars in millions except per share amounts)
For the nine months ended September 30:	2024		2023
Number of shares on which basic earnings per share is calculated:
Weighted-average shares outstanding during period	920,347,948		910,057,739
Add — Incremental shares under stock-based compensation plans	12,829,572		8,241,752
Add — Incremental shares associated with contingently issuable shares	2,247,712		2,024,201
Number of shares on which diluted earnings per share is calculated	935,425,233		920,323,692

Income from continuing operations	$	3,088	$	4,229
Income/(loss) from discontinued operations, net of tax	21		(15)
Net income on which basic earnings per share is calculated	$	3,109	$	4,214

Income from continuing operations	$	3,088	$	4,229
Net income applicable to contingently issuable shares	—		—
Income from continuing operations on which diluted earnings per share is calculated	$	3,088	$	4,229
Income/(loss) from discontinued operations, net of tax, on which diluted earnings per share is calculated	21		(15)
Net income on which diluted earnings per share is calculated	$	3,109	$	4,214

Earnings/(loss) per share of common stock:
Assuming dilution
Continuing operations	$	3.30	$	4.59
Discontinued operations	0.02		(0.02)
Total	$	3.32	$	4.58
Basic
Continuing operations	$	3.36	$	4.65
Discontinued operations	0.02		(0.02)
Total	$	3.38	$	4.63