Earnings per Share
The computations of basic and diluted earnings per share were as follows:
 Years Ended December 31,
202520242023
(in millions, except per share amounts)
Numerator:
Net income
$3,563 $3,401 $2,556 
Denominator:
Basic: Weighted-average common shares outstanding
96.7 101.0 105.7 
Effect of potentially dilutive nonqualified stock options and other share-based awards
1.5 1.9 2.1 
Diluted: Weighted-average common shares outstanding
98.2 102.9 107.8 
Earnings per share attributable to Ameriprise Financial, Inc. common shareholders:
Basic
$36.85 $33.67 $24.18 
Diluted
$36.28 $33.05 $23.71 
The calculation of diluted earnings per share includes the dilutive effect of the assumed exercise or issuance of stock-based awards using the treasury stock method. The calculation excludes the incremental effect of 0.1 million, nil and 0.2 million options for the years ended December 31, 2025, 2024 and 2023, respectively, due to their anti-dilutive effect.

Historical Timeline

Fiscal YearFiled
2025Feb 19, 2026Showing above
2024Feb 20, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 25, 2022
2020Feb 24, 2021
2019Feb 26, 2020
2018Feb 27, 2019
2017Feb 23, 2018
2016Feb 23, 2017
2015Feb 25, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.