Annual report [Section 13 and 15(d), not S-K Item 405]

Earnings Per Common Share (Tables)

v3.25.4
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of EPS and diluted EPS for 2025, 2024 and 2023 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles.
(In millions, except per share information) 2025 2024 2023
Earnings per common share    
Net income $ 30,509  $ 26,973  $ 26,305 
Preferred stock dividends and other
 (1,454) (1,629) (1,649)
Net income applicable to common shareholders $ 29,055  $ 25,344  $ 24,656 
Average common shares issued and outstanding 7,521.9  7,855.5  8,028.6 
Earnings per common share $ 3.86  $ 3.23  $ 3.07 
Diluted earnings per common share    
Net income applicable to common shareholders $ 29,055  $ 25,344  $ 24,656 
Add preferred stock dividends due to assumed conversions 223  —  — 
Net income allocated to common shareholders $ 29,278  $ 25,344  $ 24,656 
Average common shares issued and outstanding 7,521.9  7,855.5  8,028.6 
Dilutive potential common shares
 159.0  80.3  51.9 
Total average diluted common shares issued and outstanding
 7,680.9  7,935.8  8,080.5 
Diluted earnings per common share $ 3.81  $ 3.19  $ 3.05