Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Reconciliation of Earnings Per Common and Diluted Share

The computations of basic and diluted earnings per common share were as follows.


EARNINGS PER SHARE COMPUTATIONS
	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions, except per share data; shares in thousands)	2025		2024			2025		2024
Net income	$	245	$	204		$	467	$	401
Net income attributable to noncontrolling interest	4		5			8		10
Net income attributable to controlling interest	241		199			459		391
Preferred stock dividends	8		15			13		23
Net income available to common shareholders	$	233	$	184		$	446	$	368

Weighted average common shares outstanding—basic	508,125		543,981			512,596		549,479
Effect of dilutive restricted stock, performance equity awards and options	5,481		3,112			6,105		3,060

Weighted average common shares outstanding—diluted	513,606		547,093			518,701		552,539

Basic earnings per common share	$	0.46	$	0.34		$	0.87	$	0.67
Diluted earnings per common share	$	0.45	$	0.34		$	0.86	$	0.67

Schedule of Anti-Dilutive Options and Awards

The following table presents average outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they

were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met.


ANTI-DILUTIVE EQUITY AWARDS
	Three Months Ended June 30,				Six Months Ended June 30,
(Shares in thousands)	2025		2024		2025		2024
Stock options excluded from the calculation of diluted EPS	—		1,388		—		1,458
Weighted average exercise price of stock options excluded from the calculation of diluted EPS	$	—	$	16.48	$	—	$	16.59
Other equity awards excluded from the calculation of diluted EPS	3,522		6,828		2,752		6,819

FIRST HORIZON CORP 10-Q