Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 176

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 176
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 recognized in other noninterest expenses:Amortization of actuarial net loss 7 7 Amortization of prior service credit(5)(5)Total amounts recognized in other noninterest expenses 2 2 Less: Provision for income taxes1 — Adjustment for amounts recognized as components of net periodic benefit credit during the period, net of tax 1 2 Change in defined benefit pension and other postretirement plans adjustment, net of tax 1 2 Balance at end of period, net of tax $(367)$(398)Total accumulated other comprehensive loss at end of period, net of tax$(2,695)$(3,457)

(a)The Corporation expects to reclassify $166 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 March 31, 2025 levels.

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Table of ContentsNotes to Consolidated Financial Statements (unaudited)Comerica Incorporated and Subsidiaries

NOTE 10 - NET INCOME PER COMMON SHARE 

Basic and diluted net income per common share are presented in the following table.Three Months Ended March 31,(in millions, except per share data)20252024Basic and dilutedNet income$172 $138 Less:Income allocated to participating securities1 1 Preferred stock dividends6 6 Net income attributable to common shares$165 $131 Basic average common shares132 132 Basic net income per common share$1.26 $0.99 Basic average common shares132 132 Dilutive common stock equivalents:Net effect of the assumed exercise of stock awards1 1 Diluted average common shares133 133 Diluted net income per common share$1.25 $0.98 The following average shares related to outstanding options to purchase shares of common stock that were not included in the computation of diluted net income per common share because the options were anti-dilutive for the period.Three Months Ended March 31,(average outstanding options in thousands)20252024Average outstanding options1,252 1,785 Range of exercise prices $63.15 - $95.25$53.96 - $95.25

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Table of ContentsNotes to Consolidated Financial Statements (unaudited)Comerica Incorporated and Subsidiaries

NOTE 11 - EMPLOYEE BENEFIT PLANS

Net periodic defined benefit