EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2026

The earnings per share amounts are the same for class A and class B common shares as the holders of each class are legally entitled to equal per-share distributions whether through dividends or in liquidation.

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025 (in millions, except per share amounts):


	Three Months Ended March 31,
		2026		2025
Numerator:
Net income		$	864	$	1,187
Denominator:
Weighted-average shares		849		849
Vested portion of restricted shares		1		1
Denominator for basic earnings per share		850		850



Denominator for diluted earnings per share		850		850
Basic earnings per share(1)		$	1.02	$	1.40
Diluted earnings per share(1)		$	1.02	$	1.40

(1) Earnings per share is computed using unrounded amounts.

Diluted earnings per share for the three months ended March 31, 2026 and 2025 excluded the effect of 4.6 and 0.5 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive.