Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share.

Table 10.1: Computation of Basic and Diluted Earnings per Common Share

	Three Months Ended March 31,
(Dollars and shares in millions, except per share data)	2022		2021
Income from continuing operations, net of tax	$	2,403	$	3,327
Income (loss) from discontinued operations, net of tax	0		(2)
Net income	2,403		3,325
Dividends and undistributed earnings allocated to participating securities	(28)		(28)
Preferred stock dividends	(57)		(61)
Net income available to common stockholders	$	2,318	$	3,236
Total weighted-average basic common shares outstanding	410.4		458.6
Effect of dilutive securities:(1)
Stock options	0.5		0.8
Other contingently issuable shares	1.3		0.7
Total effect of dilutive securities	1.8		1.5
Total weighted-average diluted common shares outstanding	412.2		460.1
Basic earnings per common share:
Net income from continuing operations	$	5.65	$	7.06
Net income per basic common share	$	5.65	$	7.06
Diluted earnings per common share:(1)
Net income from continuing operations	$	5.62	$	7.03
Net income per diluted common share	$	5.62	$	7.03

__________

(1)Excluded from the computation of diluted earnings per share were awards and stock options that would be anti-dilutive. There were no anti-dilutive awards or stock options for the three months ended March 31, 2022. Awards of 103 thousand shares for the three months ended March 31, 2021 were excluded from the computation of diluted earnings per share.