Annual report pursuant to Section 13 and 15(d)

Earnings Per Common Share (Tables)

v3.20.4
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Calculation of earnings per common share and diluted earnings per common share
The calculation of EPS and diluted EPS for 2020, 2019 and 2018 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) 2020 2019 2018
Earnings per common share  
Net income $ 17,894  $ 27,430  $ 28,147 
Preferred stock dividends (1,421) (1,432) (1,451)
Net income applicable to common shareholders $ 16,473  $ 25,998  $ 26,696 
Average common shares issued and outstanding 8,753.2  9,390.5  10,096.5 
Earnings per common share $ 1.88  $ 2.77  $ 2.64 
Diluted earnings per common share    
Net income applicable to common shareholders $ 16,473  $ 25,998  $ 26,696 
Average common shares issued and outstanding 8,753.2  9,390.5  10,096.5 
Dilutive potential common shares (1)
43.7  52.4  140.4 
Total diluted average common shares issued and outstanding 8,796.9  9,442.9  10,236.9 
Diluted earnings per common share $ 1.87  $ 2.75  $ 2.61 
(1)Includes incremental dilutive shares from RSUs, restricted stock and warrants.