Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share (Tables)

v3.20.2
Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2020
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 six months ended June 30, 2020 and 2019 is presented on the following page. 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 2019 Annual Report on Form 10-K.
 
 
 
 
 
 
 
 
 
Three Months Ended June 30
 
Six Months Ended June 30
(In millions, except per share information)
2020
 
2019
 
2020
 
2019
Earnings per common share
 

 
 

 
 
 
 

Net income
$
3,533

 
$
7,348

 
$
7,543

 
$
14,659

Preferred stock dividends
(249
)
 
(239
)
 
(718
)
 
(681
)
Net income applicable to common shareholders
$
3,284

 
$
7,109

 
$
6,825

 
$
13,978

Average common shares issued and outstanding
8,739.9

 
9,523.2

 
8,777.6

 
9,624.0

Earnings per common share
$
0.38

 
$
0.75

 
$
0.78

 
$
1.45

 
 
 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 

 
 

Net income applicable to common shareholders
3,284.0

 
$
7,109

 
$
6,825

 
$
13,978

Average common shares issued and outstanding
8,739.9

 
9,523.2

 
8,777.6

 
9,624.0

Dilutive potential common shares (1)
28.2

 
36.4

 
35.7

 
48.4

Total diluted average common shares issued and outstanding
8,768.1

 
9,559.6

 
8,813.3

 
9,672.4

Diluted earnings per common share
$
0.37

 
$
0.74

 
$
0.77

 
$
1.45

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