EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

NOTE 24 - EARNINGS PER SHARE

Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period. Net income available to common stockholders represents net income after preferred stock dividends, accretion of the discount on preferred stock issuances, and gains or losses from any repurchases of preferred stock. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period, plus potential dilutive shares such as share-based payment awards and warrants using the treasury stock method.


	Year Ended December 31,
(in millions, except share and per share data)	2022	2021	2020
Numerator (basic and diluted):
Net income	$2,073	$2,319	$1,057
Less: Preferred stock dividends	113	113	107
Net income available to common stockholders	$1,960	$2,206	$950
Denominator:
Weighted-average common shares outstanding - basic	475,959,815	425,669,451	427,062,537
Dilutive common shares: share-based awards	1,843,327	1,766,367	1,095,243
Weighted-average common shares outstanding - diluted	477,803,142	427,435,818	428,157,780
Earnings per common share:
Basic	$4.12	$5.18	$2.22
Diluted(1)	4.10	5.16	2.22

(1) Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. Excluded from the computation of diluted EPS were weighted average antidilutive shares totaling 949,606, 2,929 and 1,338,130 for the years ended December 31, 2022, 2021 and 2020, respectively.