Annual report pursuant to Section 13 and 15(d)

Earnings Per Common Share (Tables)

v3.10.0.1
Earnings Per Common Share (Tables)
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share The calculation of EPS and diluted EPS for 2018, 2017 and 2016 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles.
 
 
 
 
 
 
(In millions, except per share information)
2018
 
2017
 
2016
Earnings per common share
 

 
 

 
 
Net income
$
28,147

 
$
18,232

 
$
17,822

Preferred stock dividends
(1,451
)
 
(1,614
)
 
(1,682
)
Net income applicable to common shareholders
$
26,696

 
$
16,618

 
$
16,140

Average common shares issued and outstanding
10,096.5

 
10,195.6

 
10,284.1

Earnings per common share
$
2.64

 
$
1.63

 
$
1.57

 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 
Net income applicable to common shareholders
$
26,696

 
$
16,618

 
$
16,140

Add preferred stock dividends due to assumed conversions (1)

 
186

 
300

Net income allocated to common shareholders
$
26,696

 
$
16,804

 
$
16,440

Average common shares issued and outstanding
10,096.5

 
10,195.6

 
10,284.1

Dilutive potential common shares (2)
140.4

 
582.8

 
762.7

Total diluted average common shares issued and outstanding
10,236.9

 
10,778.4

 
11,046.8

Diluted earnings per common share
$
2.61

 
$
1.56

 
$
1.49

(1) 
Represents the Series T dividends under the “if-converted” method prior to conversion.
(2) 
Includes incremental dilutive shares from RSUs, restricted stock and warrants.