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Earnings Per Common Share (EPS)
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Common Share (EPS) Earnings Per Common Share (EPS)
The computations of basic and diluted EPS for the three and six months ended June 30, 2026 and 2025 were as follows:
Table 13.1: Computation of Basic and Diluted Earnings per Share
Three Months Ended
June 30,
Six Months Ended
June 30,
(Millions, except per share amounts)2026202520262025
Numerator:
Basic and diluted:
Net income$3,110 $2,885 $6,082 $5,469 
Preferred dividends (15)(15)(29)(29)
Net income available to common shareholders$3,096 $2,870 $6,053 $5,440 
Earnings allocated to participating share awards (a)
(20)(18)(39)(36)
Net income attributable to common shareholders$3,076 $2,852 $6,014 $5,404 
Denominator: (a)
Basic: Weighted-average common shares678 698 681 700 
Add: Weighted-average stock options (b)
1 1 
Diluted679 699 682 701 
Basic EPS$4.54 $4.08 $8.83 $7.73 
Diluted EPS$4.53 $4.08 $8.81 $7.71 
(a)Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator.
(b)The dilutive effect of unexercised stock options excludes from the computation of EPS nil and 0.2 million of options for the three months ended June 30, 2026 and 2025, respectively, and nil and 0.1 million of options for the six months ended June 30, 2026 and 2025, respectively, because inclusion of the options would have been anti-dilutive.