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, 2019

Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) 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 2018 total diluted average common shares issued and outstanding was impacted by using the if-converted method. The calculation of basic and diluted earnings per share for the three-month periods ended March 31, 2019 and 2018 was as follows:



	Three Months Ended March 31,
(dollar amounts in millions, except per data, share count in thousands)	2019			2018
Basic earnings per common share:
Net income	$	358		$	326
Preferred stock dividends	(19		)	(12		)
Net income available to common shareholders	$	339		$	314
Average common shares issued and outstanding	1,046,995			1,083,836
Basic earnings per common share	$	0.32		$	0.29
Diluted earnings per common share:
Dilutive potential common shares:
Stock options and restricted stock units and awards	14,807			19,858
Shares held in deferred compensation plans	3,836			3,228
Dilutive impact of Preferred Stock	—			17,856
Dilutive potential common shares	18,643			40,942
Total diluted average common shares issued and outstanding	1,065,638			1,124,778
Diluted earnings per common share	$	0.32		$	0.28

There were approximately 4.0 million and 0.1 million of options to purchase shares of common stock not included in the computation of diluted earnings per share because the effect would be antidilutive for the three-month periods ended March 31, 2019 and 2018, respectively.