Huntington Bancshares Incorporated Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2021

(LOSS) EARNINGS PER SHARE

Basic (loss) earnings per share is the amount of (loss) earnings (adjusted for dividends declared on preferred stock) available to each share of common stock outstanding during the reporting period. Diluted (loss) earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, and distributions from deferred compensation plans. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive.

The calculation of basic and diluted (loss) earnings per share for the three-month and six-month periods ended June 30, 2021 and 2020 was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(dollar amounts in millions, except per share data, share count in thousands)	2021		2020		2021		2020
Basic earnings per common share:
Net (loss) income attributable to Huntington Bancshares Inc	$	(15)	$	150	$	517	$	198
Preferred stock dividends	43		19		74		37
Net (loss) income available to common shareholders	$	(58)	$	131	$	443	$	161
Average common shares issued and outstanding	1,125,039		1,016,259		1,071,276		1,016,951
Basic (loss) earnings per common share	$	(0.05)	$	0.13	$	0.41	$	0.16
Diluted earnings per common share:




Dilutive potential common shares:
Stock options and restricted stock units and awards	—		7,516		17,667		9,939
Shares held in deferred compensation plans	—		4,908		5,531		4,739


Dilutive potential common shares	—		12,424		23,198		14,678
Total diluted average common shares issued and outstanding	1,125,039		1,028,683		1,094,474		1,031,629
Diluted (loss) earnings per common share	$	(0.05)	$	0.13	$	0.40	$	0.16
Anti-dilutive awards (1)	26,895		17,200		2,738		12,291

(1)Reflects the total number of shares related to outstanding options and awards that have been excluded from the computation of diluted earnings per share because the impact would have been anti-dilutive.

Due to the loss attributable to common shareholders for the three months ended June 30, 2021, no additional potentially dilutive shares were included in loss per share calculation as including such shares in the calculation would have reduced the reported loss per share.