As described in Note 19, TD Bank disposed of all of its common shares of CSC during the first quarter of 2025, including its holdings of nonvoting common stock. As of February 12, 2025, the Company had no remaining nonvoting common stock outstanding and accordingly, no dividends were paid on nonvoting common stock during the year ended December 31, 2025.

EPS is computed using the two-class method. Preferred stock dividends, and undistributed earnings and dividends allocated to participating securities are subtracted from net income in determining net income available to common stockholders. Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is calculated similar to basic EPS except that the numerator and denominator are adjusted as necessary for any effects of dilutive potential common shares, which include, if dilutive, outstanding stock options and non-vested restricted stock units.

For the computations of basic and diluted EPS, undistributed net income of the Company was allocated on a proportionate basis to the voting and nonvoting common stock, as the distribution rights of the two classes were identical. Diluted EPS was calculated using the treasury stock method for outstanding stock options and non-vested restricted stock units and the if-converted method for nonvoting common stock, which assumed conversion of all outstanding nonvoting common stock to common stock.



Year Ended December 31,	2025
	Common Stock		Nonvoting Common Stock		Consolidated Common Stock
Basic earnings per share:
Numerator
Net income	$	8,830	$	22	$	8,852
Preferred stock dividends and other (1)	(434)		(1)		(435)
Net income available to common stockholders	$	8,396	$	21	$	8,417
Denominator
Weighted-average common shares outstanding — basic	1,798		51		1,804
Basic earnings per share	$	4.67	$	.41	$	4.67
Diluted earnings per share:
Numerator
Net income available to common stockholders	$	8,396	$	21	$	8,417
Reallocation of net income available to common stockholders as a result of conversion of nonvoting to voting shares	21		—		—
Allocation of net income available to common stockholders	$	8,417	$	21	$	8,417
Denominator
Weighted-average common shares outstanding — basic	1,798		51		1,804
Conversion of nonvoting shares to voting shares	6		—		—
Common stock equivalent shares related to stock incentive plans	5		—		5
Weighted-average common shares outstanding — diluted (2)	1,809		51		1,809
Diluted earnings per share	$	4.65	$	.41	$	4.65


Year Ended December 31,	2024				2023
	Common Stock		Nonvoting Common Stock		Common Stock		Nonvoting Common Stock
Basic earnings per share:
Numerator
Net income	$	5,777	$	165	$	4,925	$	142
Preferred stock dividends and other (1)	(451)		(13)		(406)		(12)
Net income available to common stockholders	$	5,326	$	152	$	4,519	$	130
Denominator
Weighted-average common shares outstanding — basic	1,777		51		1,773		51
Basic earnings per share	$	3.00	$	3.00	$	2.55	$	2.55
Diluted earnings per share:
Numerator
Net income available to common stockholders	$	5,326	$	152	$	4,519	$	130
Reallocation of net income available to common stockholders as a result of conversion of nonvoting to voting shares	152		—		130		—
Allocation of net income available to common stockholders	$	5,478	$	152	$	4,649	$	130
Denominator
Weighted-average common shares outstanding — basic	1,777		51		1,773		51
Conversion of nonvoting shares to voting shares	51		—		51		—
Common stock equivalent shares related to stock incentive plans	6		—		7		—
Weighted-average common shares outstanding — diluted (2)	1,834		51		1,831		51
Diluted earnings per share	$	2.99	$	2.99	$	2.54	$	2.54