Earnings Per Share

3 Months Ended

Mar. 31, 2022

EARNINGS PER SHARE

Table 61: Basic and Diluted Earnings Per Common Share


	Three months ended March 31
In millions, except per share data	2022		2021
Basic
Net income	$	1,429	$	1,826
Less:
Net income attributable to noncontrolling interests	21		10
Preferred stock dividends	45		57
Preferred stock discount accretion and redemptions	2		1
Net income attributable to common shareholders	1,361		1,758
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	6		8
Net income attributable to basic common shareholders	$	1,355	$	1,750



Basic weighted-average common shares outstanding	420		426
Basic earnings per common share (a)	$	3.23	$	4.11


Diluted
Net income attributable to diluted common shareholders	$	1,355	$	1,750



Basic weighted-average common shares outstanding	420		426
Dilutive potential common shares
Diluted weighted-average common shares outstanding	420		426
Diluted earnings per common share (a)	$	3.23	$	4.10

(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).