Bank of America Corporation Annual report pursuant to Section 13 and 15(d)

Earnings Per Common Share (Tables)

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2017

Calculation of earnings per common share and diluted earnings per common share

The calculation of EPS and diluted EPS for 2017, 2016 and 2015 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)	2017			2016			2015
Earnings per common share
Net income	$	18,232		$	17,822		$	15,910
Preferred stock dividends	(1,614		)	(1,682		)	(1,483		)
Net income applicable to common shareholders	$	16,618		$	16,140		$	14,427
Average common shares issued and outstanding	10,195,646			10,284,147			10,462,282
Earnings per common share	$	1.63		$	1.57		$	1.38

Diluted earnings per common share
Net income applicable to common shareholders	$	16,618		$	16,140		$	14,427
Add preferred stock dividends due to assumed conversions ⁽¹⁾	186			300			300
Net income allocated to common shareholders	$	16,804		$	16,440		$	14,727
Average common shares issued and outstanding	10,195,646			10,284,147			10,462,282
Dilutive potential common shares ⁽²⁾	582,782			762,659			773,948
Total diluted average common shares issued and outstanding	10,778,428			11,046,806			11,236,230
Diluted earnings per common share	$	1.56		$	1.49		$	1.31


⁽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.