Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.24.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
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 Six Months Ended
(dollar amounts in millions, except per share data, share count in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023
Basic earnings per common share:
Net income attributable to Huntington $ 474  $ 559  $ 893  $ 1,161 
Preferred stock dividends 35  40  71  69 
Net income available to common shareholders $ 439  $ 519  $ 822  $ 1,092 
Average common shares issued and outstanding 1,451,207  1,446,372  1,449,850  1,444,820 
Basic earnings per common share $ 0.30  $ 0.36  $ 0.57  $ 0.76 
Diluted earnings per common share:
Average dilutive potential common shares:
Stock options and restricted stock units and awards 15,407  12,212  16,401  15,913 
Shares held in deferred compensation plans 7,645  7,136  7,546  6,767 
Average dilutive potential common shares 23,052  19,348  23,947  22,680 
Total diluted average common shares issued and outstanding 1,474,259  1,465,720  1,473,797  1,467,500 
Diluted earnings per common share $ 0.30  $ 0.35  $ 0.56  $ 0.74 
Anti-dilutive awards (1) 7,319  15,413  8,380  12,226 
(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.