The following schedule presents the basic and diluted net earnings per common share, calculated using the weighted-average number of shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | (In millions, except shares and per share amounts) | 2026 | | 2025 | | 2026 | | 2025 | | Basic: | | | | | | | | | Net income | $ | 263 | | | $ | 222 | | | $ | 949 | | | $ | 636 | | | Less common and preferred dividends | 72 | | | 68 | | | 208 | | | 199 | | | | | | | | | | | Undistributed earnings | 191 | | | 154 | | | 741 | | | 437 | | | Less undistributed earnings applicable to nonvested shares | 3 | | | 2 | | | 10 | | | 5 | | | Undistributed earnings applicable to common shares | 188 | | | 152 | | | 731 | | | 432 | | | Distributed earnings applicable to common shares | 71 | | | 66 | | | 203 | | | 193 | | | Total earnings applicable to common shares | $ | 259 | | | $ | 218 | | | $ | 934 | | | $ | 625 | | | Weighted average common shares outstanding (in thousands) | 144,984 | | | 147,045 | | | 146,009 | | | 147,136 | | | Net earnings per common share | $ | 1.78 | | | $ | 1.48 | | | $ | 6.40 | | | $ | 4.25 | | | Diluted: | | | | | | | | | Total earnings applicable to common shares | $ | 259 | | | $ | 218 | | | $ | 934 | | | $ | 625 | | | Weighted average common shares outstanding (in thousands) | 144,984 | | | 147,045 | | | 146,009 | | | 147,136 | | | | | | | | | | | | | | | | | | | Dilutive effect of stock options (in thousands) | 104 | | | 80 | | | 95 | | | 39 | | | Weighted average diluted common shares outstanding (in thousands) | 145,088 | | | 147,125 | | | 146,104 | | | 147,175 | | | Net earnings per common share | $ | 1.78 | | | $ | 1.48 | | | $ | 6.39 | | | $ | 4.25 | |
|