Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2021

Basic and Diluted Earnings per Common Share

Table 59: Basic and Diluted Earnings Per Common Share


	Three months ended March 31
In millions, except per share data	2021		2020
Basic
Net income from continuing operations	$	1,826	$	759
Less:
Net income attributable to noncontrolling interests	10		7
Preferred stock dividends	57		63
Preferred stock discount accretion and redemptions	1		1
Net income from continuing operations attributable to common shareholders	1,758		688
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	8		3
Net income from continuing operations attributable to basic common shareholders	$	1,750	$	685
Net income from discontinued operations attributable to common shareholders			$	156
Less: Undistributed earnings allocated to nonvested restricted shares			1
Net income from discontinued operations attributable to basic common shareholders			$	155
Basic weighted-average common shares outstanding	426		429
Basic earnings per common share from continuing operations (a)	$	4.11	$	1.59
Basic earnings per common share from discontinued operations (a)			$	0.37
Basic earnings per common share	$	4.11	$	1.96
Diluted
Net income from continuing operations attributable to diluted common shareholders	$	1,750	$	685
Net income from discontinued operations attributable to basic common shareholders			$	155
Less: Impact of earnings per share dilution from discontinued operations			1
Net income from discontinued operations attributable to diluted common shareholders			$	154
Basic weighted-average common shares outstanding	426		429
Dilutive potential common shares			1
Diluted weighted-average common shares outstanding	426		430
Diluted earnings per common share from continuing operations (a)	$	4.10	$	1.59
Diluted earnings per common share from discontinued operations (a)			$	0.36
Diluted earnings per common share	$	4.10	$	1.95

(a)Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares and restricted share units with nonforfeitable dividends and dividend rights (participating securities).