| Calculation of earnings per common share and diluted earnings per common share |
The calculation of earnings per common share (EPS) and diluted EPS for the three and nine months ended September 30, 2025 and 2024 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2024 Annual Report on Form 10-K.
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Three Months Ended
September 30 |
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Nine Months Ended
September 30 |
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| (In millions, except per share information) |
2025 |
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2024 |
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2025 |
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2024 |
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| Earnings per common share |
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| Net income |
$ |
8,469
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$ |
6,896 |
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$ |
22,981
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$ |
20,467 |
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Preferred stock dividends and other |
(429) |
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(516) |
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(1,126) |
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(1,363) |
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| Net income applicable to common shareholders |
$ |
8,040
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$ |
6,380 |
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$ |
21,855
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$ |
19,104 |
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| Average common shares issued and outstanding |
7,466.0
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7,818.0 |
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7,574.5
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7,894.7 |
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| Earnings per common share |
$ |
1.08
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$ |
0.82 |
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$ |
2.89
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$ |
2.42 |
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| Diluted earnings per common share |
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| Net income applicable to common shareholders |
$ |
8,040
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$ |
6,380 |
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$ |
21,855
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$ |
19,104 |
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| Add preferred stock dividends due to assumed conversions |
56
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—
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167
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— |
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| Net income allocated to common shareholders |
$ |
8,096 |
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$ |
6,380 |
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$ |
22,022
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$ |
19,104 |
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| Average common shares issued and outstanding |
7,466.0
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7,818.0 |
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7,574.5
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7,894.7 |
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Dilutive potential common shares |
161.1
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84.1 |
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150.2
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70.3 |
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Total average diluted common shares issued and outstanding |
7,627.1 |
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7,902.1 |
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7,724.7 |
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7,965.0 |
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| Diluted earnings per common share |
$ |
1.06
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$ |
0.81 |
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$ |
2.85
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$ |
2.40 |
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