v3.26.1
Earnings per common share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings per common share


8. Earnings per common share
The computations of basic earnings per common share follow.
Three Months Ended March 31,
(Dollars in millions, except per share, shares in thousands)20262025
Income available to common shareholders:
Net income$664 $584 
Less: Preferred stock dividends(43)(36)
Net income available to common equity621 548 
Less: Income attributable to unvested stock-based compensation awards(1)(1)
Net income available to common shareholders$620 $547 
Weighted-average shares outstanding:
Common shares outstanding and unvested stock-based compensation awards149,487 164,520 
Less: Unvested stock-based compensation awards(262)(311)
Weighted-average shares outstanding149,225 164,209 
Basic earnings per common share$4.16 $3.33 
The computations of diluted earnings per common share follow.
Three Months Ended March 31,
(Dollars in millions, except per share, shares in thousands)20262025
Net income available to common equity$621 $548 
Less: Income attributable to unvested stock-based compensation awards(1)(1)
Net income available to common shareholders$620 $547 
Adjusted weighted-average shares outstanding:
Common shares outstanding and unvested stock-based compensation awards149,487 164,520 
Less: Unvested stock-based compensation awards(262)(311)
Plus: Incremental shares from assumed conversion of stock-based compensation awards884 838 
Adjusted weighted-average shares outstanding150,109 165,047 
Diluted earnings per common share$4.13 $3.32 
Stock-based compensation awards to purchase common stock of M&T representing common shares of 0.1 million in each of the three-month periods ended March 31, 2026 and 2025 were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.