EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 15 - EARNINGS PER SHARE

Basic EPS is the amount of earnings, adjusted for preferred stock dividends and the impact of issuance costs associated with preferred stock redemptions, available to each share of common stock outstanding during the reporting period. Diluted EPS is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares, which include incremental shares issued for share-based payment awards. Potentially dilutive common shares are excluded from the computation of diluted EPS in periods in which the effect would be antidilutive.

The following table presents the calculation of basic and diluted EPS:

	Three Months Ended June 30,		Six Months Ended June 30,
(dollars in millions, except per share data)	2025	2024	2025	2024
Numerator (basic and diluted):
Net income	$436	$392	$809	$726
Less: Preferred stock dividends	34	35	67	65
Net income available to common stockholders	$402	$357	$742	$661
Denominator:
Weighted-average common shares outstanding - basic	433,640,210	454,142,489	435,967,554	457,750,585
Dilutive common shares: share-based awards	2,899,564	2,418,533	3,375,149	2,258,961
Weighted-average common shares outstanding - diluted	436,539,774	456,561,022	439,342,703	460,009,546
Earnings per common share:
Basic	$0.93	$0.79	$1.70	$1.44
Diluted(1)	0.92	0.78	1.69	1.44

(1) Excluded from the computation of diluted EPS were weighted-average antidilutive shares totaling 1,703,819 and 1,206,158 for the three months ended June 30, 2025 and 2024, respectively, and 1,144,513 and 1,318,088 for the six months ended June 30, 2025 and 2024, respectively.