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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Common Share Earnings Per Common Share
The following table provides the computation of basic and diluted earnings per common share (EPS) (in millions, except share and per share amounts):
 Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Basic EPS:
Net income$717 $1,338 $405 $1,348 
Weighted average common shares outstanding (in thousands)656,965 653,602 656,406 652,801 
Basic EPS$1.09 $2.05 $0.62 $2.06 
Diluted EPS:
Net income$717 $1,338 $405 $1,348 
Interest expense on 6.50% convertible senior notes
9 12 22 23 
Net income for purposes of computing diluted EPS$726 $1,350 $427 $1,371 
Share computation for diluted EPS (in thousands):
Basic weighted average common shares outstanding656,965 653,602 656,406 652,801 
Dilutive effect of restricted stock unit awards723 1,307 865 1,185 
Dilutive effect of certain PSP Warrants and Treasury Loan Warrants886 2,708 1,713 3,176 
Assumed conversion of 6.50% convertible senior notes
61,728 61,728 61,728 61,728 
Diluted weighted average common shares outstanding720,302 719,345 720,712 718,890 
Diluted EPS$1.01 $1.88 $0.59 $1.91 
The following were excluded from the calculation of diluted EPS because inclusion of such shares would be antidilutive (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Restricted stock unit awards2,912 3,680 3,112 3,889 
In addition, for the three and six months ended June 30, 2024 and 2023, excluded from the calculation of diluted EPS because inclusion of such shares would be antidilutive, are certain shares underlying the warrants issued pursuant to (i) the payroll support program established under the Coronavirus Aid, Relief, and Economic Security Act (PSP1), (ii) the payroll support program established under the Subtitle A of Title IV of Division N of the Consolidated Appropriations Act, 2021 (PSP2), (iii) the payroll support program established under the American Rescue Plan Act of 2021 (PSP3) (collectively, the PSP Warrants) and (iv) the Loan and Guarantee Agreement with the U.S. Department of Treasury (Treasury Loan Warrants).
The table below provides a summary of the PSP Warrants and the Treasury Loan Warrants:
WarrantsWarrants Issued (shares, in thousands)Exercise PriceExpiration
PSP1 Warrants14,048$12.51 April 2025 to September 2025
PSP2 Warrants6,57615.66 January 2026 to April 2026
PSP3 Warrants4,40721.75 April 2026 to June 2026
Treasury Loan Warrants4,39612.51 September 2025