Earnings Per Share

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

Table 64: Basic and Diluted Earnings Per Common Share


	Three months ended June 30				Six months ended June 30
In millions, except per share data	2022		2021		2022		2021
Basic
Net income	$	1,496	$	1,103	$	2,925	$	2,929
Less:
Net income attributable to noncontrolling interests	15		12		36		22
Preferred stock dividends	71		48		116		105
Preferred stock discount accretion and redemptions	1		1		3		2
Net income attributable to common shareholders	1,409		1,042		2,770		2,800
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	7		5		13		13
Net income attributable to basic common shareholders	$	1,402	$	1,037	$	2,757	$	2,787



Basic weighted-average common shares outstanding	414		427		417		426
Basic earnings per common share (a)	$	3.39	$	2.43	$	6.62	$	6.54


Diluted
Net income attributable to diluted common shareholders	$	1,402	$	1,037	$	2,757	$	2,787



Basic weighted-average common shares outstanding	414		427		417		426
Dilutive potential common shares							1
Diluted weighted-average common shares outstanding	414		427		417		427
Diluted earnings per common share (a)	$	3.39	$	2.43	$	6.61	$	6.53

(a)Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares and restricted share units with nonforfeitable dividends and dividend rights (participating securities).