Earnings Per ShareThe following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts): | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2023 | | 2022 | | 2021 | | (As Restated) | | (As Restated) | | (As Restated) | | Numerator | | | | | | | Net income | $ | 2,796 | | | $ | 4,316 | | | $ | 5,388 | | | Preferred stock dividends | (62) | | | (62) | | | (69) | | | | | | | | | Net income available to common stockholders | 2,734 | | | 4,254 | | | 5,319 | | | Income allocated to participating securities | (19) | | | (26) | | | (30) | | | Net income allocated to common stockholders | $ | 2,715 | | | $ | 4,228 | | | $ | 5,289 | | | Denominator | | | | | | | Weighted-average shares of common stock outstanding | 254 | | | 277 | | | 300 | | | Effect of dilutive common stock equivalents | — | | | 1 | | | — | | | Weighted-average shares of common stock outstanding and common stock equivalents | 254 | | | 278 | | | 300 | | | | | | | | | Basic earnings per common share | $ | 10.71 | | | $ | 15.25 | | | $ | 17.64 | | | Diluted earnings per common share | $ | 10.70 | | | $ | 15.23 | | | $ | 17.63 | | | | | | | |
Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.
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