v3.25.4
EARNINGS PER SHARE
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding restricted shares. We calculate diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based instruments, including stock options, restricted stock awards and warrants. Antidilutive common stock equivalents excluded from the diluted earnings per share calculation are not material. The following table shows our computation:

Basic and diluted earnings per share
Year Ended December 31,
(in millions, except per share data)202520242023
Net income$5,005 $3,457 $4,609 
Basic weighted average shares outstanding648 641 639 
Dilutive effect of share-based instruments
Diluted weighted average shares outstanding654 648 643 
Basic earnings per share$7.72 $5.39 $7.21 
Diluted earnings per share$7.66 $5.33 $7.17