Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 577

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 577
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 net of tax$(3,161)$(3,048)$(3,742)(a)The Corporation expects to reclassify $198 million of losses, net of tax, from accumulated other comprehensive loss to earnings over the next twelve months if interest yield curves and notional amounts remain at December 31, 2024 levels.

F-80

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTSComerica Incorporated and Subsidiaries

NOTE 15 - NET INCOME PER COMMON SHARE

Basic and diluted net income per common share are presented in the following table.(in millions, except per share data)Years Ended December 31202420232022Basic and dilutedNet income$698 $881 $1,151 Less:Income allocated to participating securities4 4 6 Preferred stock dividends23 23 23 Net income attributable to common shares$671 $854 $1,122 Basic average common shares133 132 131 Basic net income per common share$5.06 $6.47 $8.56 Basic average common shares133 132 131 Dilutive common stock equivalents:Net effect of the assumed exercise of stock awards1 1 2 Diluted average common shares134 133 133 Diluted net income per common share$5.02 $6.44 $8.47 Declared dividends on preferred stock are excluded from net income attributable to common shares. Refer to Note 13 for further information on preferred stock.The following average shares related to outstanding options to purchase shares of common stock were not included in the computation of diluted net income per common share because the options were anti-dilutive for the period. (average outstanding options in thousands)Years Ended December 31202420232022Average outstanding options1,7921,631543Range of exercise prices$53.96 - $95.25$49.20 - $95.25$70.18 - $95.25

NOTE 16 - SHARE-BASED COMPENSATION 

Share-based compensation expense is charged to salaries and benefits expense on the Consolidated Statements of Income. The total share-based compensation expense for all share-based compensation plans and related tax benefits are as follows:(in millions)Years Ended December 31202420232022Total share-based compensation expense$54 $52 $60 Related tax benefits recognized in net income12 12 14 The following table summarizes unrecognized compensation expense for