| Calculation of earnings per share basic and diluted |
The following table presents the calculation of basic and diluted EPS for the three and six months ended June 30, 2026 and 2025. | | | | | | | | | | | | | | | | | | | (in millions, except per share amounts) | Three months ended June 30, | | Six months ended June 30, | | 2026 | 2025 | | 2026 | 2025 | Basic earnings per share | | | | | | | Net income | $ | 21,155 | | $ | 14,987 | | | $ | 37,649 | | $ | 29,630 | | Less: Preferred stock dividends | 308 | | 282 | | | 584 | | 537 | | Net income applicable to common equity | 20,847 | | 14,705 | | | 37,065 | | 29,093 | | Less: Dividends and undistributed earnings allocated to participating securities | 95 | | 75 | | | 164 | | 145 | | Net income applicable to common stockholders | $ | 20,752 | | $ | 14,630 | | | $ | 36,901 | | $ | 28,948 | | | | | | | | Total weighted-average basic shares outstanding | 2,689.9 | | 2,788.7 | | | 2,703.1 | | 2,804.0 | | Net income per share | $ | 7.71 | | $ | 5.25 | | | $ | 13.65 | | $ | 10.32 | | | | | | | | Diluted earnings per share | | | | | | Net income applicable to common stockholders | $ | 20,752 | | $ | 14,630 | | | $ | 36,901 | | $ | 28,948 | | Total weighted-average basic shares outstanding | 2,689.9 | | 2,788.7 | | | 2,703.1 | | 2,804.0 | | | Add: Dilutive impact of unvested PSUs, nondividend-earning RSUs and SARs | 4.3 | | 5.0 | | | 4.1 | | 4.9 | | Total weighted-average diluted shares outstanding | 2,694.2 | | 2,793.7 | | | 2,707.2 | | 2,809.0 | | Net income per share | $ | 7.70 | | $ | 5.24 | | | $ | 13.63 | | $ | 10.31 | |
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