Annual report pursuant to Section 13 and 15(d)

Earnings Per Common Share (Tables)

v3.6.0.2
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of EPS and diluted EPS for 2016, 2015 and 2014 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)
2016
 
2015
 
2014
Earnings per common share
 

 
 

 
 

Net income
$
17,906

 
$
15,836

 
$
5,520

Preferred stock dividends
(1,682
)
 
(1,483
)
 
(1,044
)
Net income applicable to common shareholders
$
16,224

 
$
14,353

 
$
4,476

Average common shares issued and outstanding
10,284,147

 
10,462,282

 
10,527,818

Earnings per common share
$
1.58

 
$
1.37

 
$
0.43

 
 
 
 
 
 
Diluted earnings per common share
 

 
 

 
 

Net income applicable to common shareholders
$
16,224

 
$
14,353

 
$
4,476

Add preferred stock dividends due to assumed conversions
300

 
300

 
—

Net income allocated to common shareholders
$
16,524

 
$
14,653

 
$
4,476

Average common shares issued and outstanding
10,284,147

 
10,462,282

 
10,527,818

Dilutive potential common shares (1)
751,510

 
751,710

 
56,717

Total diluted average common shares issued and outstanding
11,035,657

 
11,213,992

 
10,584,535

Diluted earnings per common share
$
1.50

 
$
1.31

 
$
0.42

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