Earnings Per Common Share

6 Months Ended

Jun. 30, 2026

NOTE 7. EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:


	Three Months Ended June 30				Six Months Ended June 30
	2026		2025		2026		2025
	(In millions, except per share data)
Numerator:
Net income	$	570	$	563	$	1,129	$	1,053
Preferred stock dividends and other (1)	(21)		(29)		(41)		(54)


Net income available to common shareholders	$	549	$	534	$	1,088	$	999
Denominator:
Weighted-average common shares outstanding—basic	$	854	$	898	$	858	$	902
Potential common shares	3		2		4		3
Weighted-average common shares outstanding—diluted	$	857	$	900	$	862	$	905






Earnings per common share:
Basic	$	0.64	$	0.59	$	1.27	$	1.11
Diluted	$	0.64	$	0.59	$	1.26	$	1.10

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(1) Preferred stock dividends and other for the three and six months ended June 30, 2025 included $4 million of issuance costs associated with the redemption of Series D preferred shares in the second quarter of 2025.

The effects from the assumed exercise of restricted stock units totaling 4 million and 3 million for the three and six months ended June 30, 2026, respectively, were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.

The effects from the assumed exercise of restricted stock units totaling 5 million and 4 million for the three and six months ended June 30, 2025, respectively, were not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.