Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share (Tables)

v3.19.3
Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2019
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 the three and nine months ended September 30, 2019 and 2018 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2018 Annual Report on Form 10-K.
 
 
 
 
 
 
 
 
 
Three Months Ended
September 30
 
Nine Months Ended
September 30
(In millions, except per share information)
2019
 
2018
 
2019
 
2018
Earnings per common share
 

 
 

 
 
 
 

Net income
$
5,777

 
$
7,167

 
$
20,436

 
$
20,869

Preferred stock dividends
(505
)
 
(466
)
 
(1,186
)
 
(1,212
)
Net income applicable to common shareholders
$
5,272

 
$
6,701

 
$
19,250

 
$
19,657

Average common shares issued and outstanding
9,303.6

 
10,031.6

 
9,516.2

 
10,177.5

Earnings per common share
$
0.57

 
$
0.67

 
$
2.02

 
$
1.93

 
 
 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 

 
 

Net income applicable to common shareholders
$
5,272

 
$
6,701

 
$
19,250

 
$
19,657

Average common shares issued and outstanding
9,303.6

 
10,031.6

 
9,516.2

 
10,177.5

Dilutive potential common shares (1)
49.4

 
139.2

 
49.5

 
140.4

Total diluted average common shares issued and outstanding
9,353.0

 
10,170.8

 
9,565.7

 
10,317.9

Diluted earnings per common share
$
0.56

 
$
0.66

 
$
2.01

 
$
1.91

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