Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2023
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 is as follows:
Year Ended December 31,
(dollar amounts in millions, except per share data, share count in thousands) 2023 2022 2021
Basic earnings per common share:
Net income attributable to Huntington $ 1,951  $ 2,238  $ 1,295 
Preferred stock dividends 142  113  131 
Impact of preferred stock repurchases and redemptions (8) —  11 
Net income available to common shareholders $ 1,817  $ 2,125  $ 1,153 
Average common shares issued and outstanding 1,446,449  1,441,279  1,262,435 
Basic earnings per common share $ 1.26  $ 1.47  $ 0.91 
Diluted earnings per common share:
Average dilutive potential common shares:
Stock options and restricted stock units and awards 14,456  17,534  18,185 
Shares held in deferred compensation plans 7,111  6,407  6,113 
Average dilutive potential common shares 21,567  23,941  24,298 
Total diluted average common shares issued and outstanding 1,468,016  1,465,220  1,286,733 
Diluted earnings per common share $ 1.24  $ 1.45  $ 0.90 
Anti-dilutive awards (1) 11,039  5,303  2,674 
(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.