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Earnings Per Common Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Common Share
NOTE 11—EARNINGS PER COMMON SHARE
The following table sets forth the computation of basic and diluted earnings per common share.
Table 11.1: Computation of Basic and Diluted Earnings per Common Share
Three Months Ended June 30,Six Months Ended June 30,
(Dollars and shares in millions, except per share data)2024202320242023
Net income$597 $1,431 $1,877 $2,391 
Dividends and undistributed earnings allocated to participating securities(9)(23)(32)(39)
Preferred stock dividends(57)(57)(114)(114)
Net income available to common stockholders$531 $1,351 $1,731 $2,238 
Total weighted-average basic common shares outstanding383.1 382.8 382.7 382.7 
Effect of dilutive securities:(1)
Stock options0.2 0.1 0.2 0.1 
Other contingently issuable shares0.6 0.8 0.8 1.0 
Total effect of dilutive securities0.8 0.9 1.0 1.1 
Total weighted-average diluted common shares outstanding383.9 383.7 383.7 383.8 
Basic earnings per common share:
Net income per basic common share$1.39 $3.53 $4.52 $5.85 
Diluted earnings per common share:(1)
Net income per diluted common share$1.38 $3.52 $4.51 $5.83 
__________
(1)Excluded from the computation of diluted earnings per share were awards of 64 thousand shares and 20 thousand shares for the six months ended June 30, 2024 and June 30, 2023, respectively, because their inclusion would be anti-dilutive. There were no awards excluded from the computation of dilutive earning per share for the three months ended June 30, 2024 and June 30, 2023.