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

3 Months Ended

Mar. 31, 2024

Basic earnings per share is the amount of earnings (adjusted for preferred stock dividends and the impact of preferred stock repurchases and redemptions) available to each share of common stock outstanding during the reporting period. Diluted 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 earnings per share was as follows:


	Three Months Ended
(dollar amounts in millions, except per share data, share count in thousands)	March 31, 2024		March 31, 2023
Basic earnings per common share:
Net income attributable to Huntington	$	419	$	602
Preferred stock dividends	36		29

Net income available to common shareholders	$	383	$	573
Average common shares issued and outstanding	1,448,492		1,443,268
Basic earnings per common share	$	0.26	$	0.40
Diluted earnings per common share:




Average dilutive potential common shares:
Stock options and restricted stock units and awards	17,396		19,613
Shares held in deferred compensation plans	7,447		6,398


Average dilutive potential common shares	24,843		26,011
Total diluted average common shares issued and outstanding	1,473,335		1,469,279
Diluted earnings per common share	$	0.26	$	0.39
Anti-dilutive awards (1)	9,794		9,344

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