HUMANA INC Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| (dollars in millions, except per common share results, number of shares/options in thousands) | |||||||||||||||||
| Net income available for common stockholders | $ | 1,188 | $ | 1,207 | $ | 2,489 | |||||||||||
| Weighted-average outstanding shares of common stock used to compute basic earnings per common share | 120,454 | 120,571 | 123,866 | ||||||||||||||
| Dilutive effect of: | |||||||||||||||||
| Employee stock options | — | 3 | 32 | ||||||||||||||
| Restricted stock | 372 | 295 | 543 | ||||||||||||||
| Shares used to compute diluted earnings per common share | 120,826 | 120,869 | 124,441 | ||||||||||||||
| Basic earnings per common share | $ | 9.87 | $ | 10.01 | $ | 20.09 | |||||||||||
| Diluted earnings per common share | $ | 9.84 | $ | 9.98 | $ | 20.00 | |||||||||||
| Number of antidilutive stock options and restricted stock awards excluded from computation | 895 | 814 | 207 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2018 | Feb 21, 2019 | |
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.