Earnings Per Share

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE

Table 63: Basic and Diluted Earnings Per Common Share


	Three months ended March 31
In millions, except per share data	2024		2023
Basic
Net income	$	1,344	$	1,694
Less:
Net income attributable to noncontrolling interests	14		17
Preferred stock dividends	81		68
Preferred stock discount accretion and redemptions	2		2
Net income attributable to common shareholders	1,247		1,607
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	7		8
Net income attributable to basic common shareholders	$	1,240	$	1,599



Basic weighted-average common shares outstanding	400		401
Basic earnings per common share (a)	$	3.10	$	3.98


Diluted
Net income attributable to diluted common shareholders	$	1,240	$	1,599



Basic weighted-average common shares outstanding	400		401
Dilutive potential common shares			1
Diluted weighted-average common shares outstanding	400		402
Diluted earnings per common share (a)	$	3.10	$	3.98

(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).