| Earnings Per Common Share |
Earnings Per Common Share As described in Note 15, TD Bank disposed of all of its common shares of CSC during the first quarter of 2025, including its holdings of nonvoting common stock. As of February 12, 2025, the Company had no remaining nonvoting common stock outstanding.
For details regarding the computations of basic and diluted EPS for the periods presented below, see Item 8 – Note 25 in the 2025 Form 10-K.
EPS under the basic and diluted computations for the three and six months ended June 30, 2026 is as follows: | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | Net income | $ | 2,800 | | | $ | 5,279 | | Preferred stock dividends and other (1) | (119) | | | (201) | | | Net income available to common stockholders | $ | 2,681 | | | $ | 5,078 | | | Weighted-average common shares outstanding — basic | 1,735 | | | 1,740 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common stock equivalent shares related to stock incentive plans | 4 | | | 5 | | Weighted-average common shares outstanding — diluted (2) | 1,739 | | | 1,745 | | | Basic earnings per share | $ | 1.55 | | | $ | 2.92 | | | Diluted earnings per share | $ | 1.54 | | | $ | 2.91 | |
(1) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested participating restricted stock units. (2) Antidilutive stock options and restricted stock units excluded from the calculation of diluted EPS totaled 10 million and 12 million for the three and six months ended June 30, 2026, respectively. The computations of basic and diluted EPS for the three and six months ended June 30, 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | Six Months Ended
June 30, | | 2025 | | Common
Stock | Nonvoting Common Stock | Consolidated Common Stock | Common
Stock | Nonvoting
Common Stock | Consolidated Common Stock | | Basic earnings per share: | | | | | | | | Numerator | | | | | | | | Net income | $ | 2,126 | | $ | — | | $ | 2,126 | | $ | 4,017 | | $ | 18 | | $ | 4,035 | | Preferred stock dividends and other (1) | (149) | | — | | (149) | | (261) | | (1) | | (262) | | | Net income available to common stockholders | $ | 1,977 | | $ | — | | $ | 1,977 | | $ | 3,756 | | $ | 17 | | $ | 3,773 | | | Denominator | | | | | | | | Weighted-average common shares outstanding — basic | 1,817 | | — | | 1,817 | | 1,807 | | 51 | | 1,819 | | | Basic earnings per share | $ | 1.09 | | $ | — | | $ | 1.09 | | $ | 2.07 | | $ | .33 | | $ | 2.07 | | | Diluted earnings per share: | | | | | | | | Numerator | | | | | | | | Net income available to common stockholders | $ | 1,977 | | $ | — | | $ | 1,977 | | $ | 3,756 | | $ | 17 | | $ | 3,773 | | Reallocation of net income available to common stockholders
as a result of conversion of nonvoting to voting shares | — | | — | | — | | 17 | | — | | — | | | Allocation of net income available to common stockholders | $ | 1,977 | | $ | — | | $ | 1,977 | | $ | 3,773 | | $ | 17 | | $ | 3,773 | | | Denominator | | | | | | | | Weighted-average common shares outstanding — basic | 1,817 | | — | | 1,817 | | 1,807 | | 51 | | 1,819 | | | Conversion of nonvoting shares to voting shares | — | | — | | — | | 12 | | — | | — | | Common stock equivalent shares related to stock incentive
plans | 5 | | — | | 5 | | 6 | | — | | 6 | | Weighted-average common shares outstanding — diluted (2) | 1,822 | | — | | 1,822 | | 1,825 | | 51 | | 1,825 | | | Diluted earnings per share | $ | 1.08 | | $ | — | | $ | 1.08 | | $ | 2.07 | | $ | .33 | | $ | 2.07 | |
(1) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units. (2) Antidilutive stock options and restricted stock units excluded from the calculation of diluted EPS totaled 9 million and 13 million for the three and six months ended June 30, 2025, respectively.
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