Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.23.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHAREBasic 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 calculation of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2023 and 2022 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) 2023 2022 2023 2022
Basic earnings per common share:
Net income attributable to Huntington $ 559  $ 539  $ 1,161  $ 999 
Preferred stock dividends 40  28  69  56 
Net income available to common shareholders $ 519  $ 511  $ 1,092  $ 943 
Average common shares issued and outstanding 1,446,372  1,441,200  1,444,820  1,439,814 
Basic earnings per common share $ 0.36  $ 0.35  $ 0.76  $ 0.65 
Diluted earnings per common share:
Average dilutive potential common shares:
Stock options and restricted stock units and awards 12,213  15,545  15,913  17,587 
Shares held in deferred compensation plans 7,136  6,548  6,767  6,409 
Average dilutive potential common shares 19,349  22,093  22,680  23,996 
Total diluted average common shares issued and outstanding 1,465,720  1,463,293  1,467,500  1,463,810 
Diluted earnings per common share $ 0.35  $ 0.35  $ 0.74  $ 0.64 
Anti-dilutive awards (1) 15,413  11,550  12,226  6,333 
(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.