Earnings Per Common Share

12 Months Ended

Dec. 31, 2025

NOTE 15. EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share for the years ended December 31:



		2025		2024		2023
	(In millions, except per share data)
Numerator:
Net income		$	2,156	$	1,893	$	2,074
Preferred stock dividends and other (1)		(95)		(119)		(98)


Net income available to common shareholders		$	2,061	$	1,774	$	1,976
Denominator:
Weighted-average common shares outstanding—basic		$	892	$	916	$	936
Potential common shares		4		2		2
Weighted-average common shares outstanding—diluted		$	896	$	918	$	938






Earnings per common share:
Basic		$	2.31	$	1.94	$	2.11
Diluted		$	2.30	$	1.93	$	2.11

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(1) Preferred stock dividends and other for the year ended December 31, 2025 included $4 million of issuance costs associated with the redemption of Series D preferred shares in the second quarter of 2025. Preferred stock dividends and other for the year ended December 31, 2024 included $15 million of issuance costs associated with the redemption of Series B preferred shares in the third quarter of 2024. See Note 14 for additional information.

The effects from the assumed exercise of 3 million, 5 million and 6 million in restricted stock units and awards and performance stock units for years ended December 31, 2025, December 31, 2024 and December 31, 2023, respectively, were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.