Earnings Per Share

3 Months Ended

Mar. 31, 2023

EARNINGS PER SHARE

Table 64: Basic and Diluted Earnings Per Common Share


	Three months ended March 31
In millions, except per share data	2023		2022
Basic
Net income	$	1,694	$	1,429
Less:
Net income attributable to noncontrolling interests	17		21
Preferred stock dividends	68		45
Preferred stock discount accretion and redemptions	2		2
Net income attributable to common shareholders	1,607		1,361
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	8		6
Net income attributable to basic common shareholders	$	1,599	$	1,355



Basic weighted-average common shares outstanding	401		420
Basic earnings per common share (a)	$	3.98	$	3.23


Diluted
Net income attributable to diluted common shareholders	$	1,599	$	1,355



Basic weighted-average common shares outstanding	401		420
Dilutive potential common shares	1
Diluted weighted-average common shares outstanding	402		420
Diluted earnings per common share (a)	$	3.98	$	3.23

(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).