Annual report pursuant to Section 13 and 15(d)

Earnings Per Common Share (Tables)

v2.4.1.9
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of earnings per common share (EPS) and diluted EPS for 2014, 2013 and 2012 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles.
 
 
 
 
 
 
(Dollars in millions, except per share information; shares in thousands)
2014
 
2013
 
2012
Earnings per common share
 

 
 

 
 

Net income
$
4,833

 
$
11,431

 
$
4,188

Preferred stock dividends
(1,044
)
 
(1,349
)
 
(1,428
)
Net income applicable to common shareholders
3,789

 
10,082

 
2,760

Dividends and undistributed earnings allocated to participating securities
—

 
(2
)
 
(2
)
Net income allocated to common shareholders
$
3,789

 
$
10,080

 
$
2,758

Average common shares issued and outstanding
10,527,818

 
10,731,165

 
10,746,028

Earnings per common share
$
0.36

 
$
0.94

 
$
0.26

 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 

Net income applicable to common shareholders
$
3,789

 
$
10,082

 
$
2,760

Add preferred stock dividends due to assumed conversions
—

 
300

 
—

Dividends and undistributed earnings allocated to participating securities
—

 
(2
)
 
(2
)
Net income allocated to common shareholders
$
3,789

 
$
10,380

 
$
2,758

Average common shares issued and outstanding
10,527,818

 
10,731,165

 
10,746,028

Dilutive potential common shares (1)
56,717

 
760,253

 
94,826

Total diluted average common shares issued and outstanding
10,584,535

 
11,491,418

 
10,840,854

Diluted earnings per common share
$
0.36

 
$
0.90

 
$
0.25

(1) 
Includes incremental dilutive shares from restricted stock units, restricted stock, stock options and warrants.