Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2021

Basic and Diluted Earnings per Common Share

Table 84: Basic and Diluted Earnings Per Common Share


In millions, except per share data	2021		2020		2019
Basic
Net income from continuing operations	$	5,725	$	3,003	$	4,591
Less:
Net income attributable to noncontrolling interests	51		41		49
Preferred stock dividends	233		229		236
Preferred stock discount accretion and redemptions	5		4		4
Net income from continuing operations attributable to common shareholders	5,436		2,729		4,302
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	27		13		18
Net income from continuing operations attributable to basic common shareholders	$	5,409	$	2,716	$	4,284
Net income from discontinued operations attributable to common shareholders			$	4,555	$	827
Less: Undistributed earnings allocated to nonvested restricted shares			22		3
Net income from discontinued operations attributable to basic common shareholders			$	4,533	$	824
Basic weighted-average common shares outstanding	426		427		447
Basic earnings per common share from continuing operations (a)	$	12.71	$	6.37	$	9.59
Basic earnings per common share from discontinued operations (a)			$	10.62	$	1.84
Basic earnings per common share	$	12.71	$	16.99	$	11.43
Diluted
Net income from continuing operations attributable to diluted common shareholders	$	5,409	$	2,716	$	4,284
Net income from discontinued operations attributable to basic common shareholders			$	4,533	$	824
Less: Impact of earnings per share dilution from discontinued operations			2		10
Net income from discontinued operations attributable to diluted common shareholders			$	4,531	$	814
Basic weighted-average common shares outstanding	426		427		447
Dilutive potential common shares					1
Diluted weighted-average common shares outstanding	426		427		448
Diluted earnings per common share from continuing operations (a)	$	12.70	$	6.36	$	9.57
Diluted earnings per common share from discontinued operations (a)			$	10.60	$	1.82
Diluted earnings per common share	$	12.70	$	16.96	$	11.39

(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).