Bank of America Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share (Tables)

Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017 and 2016 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 2016 Annual Report on Form 10-K.




	Three Months Ended September 30						Nine Months Ended September 30
(Dollars in millions, except per share information; shares in thousands)	2017			2016			2017			2016
Earnings per common share
Net income	$	5,587		$	4,955		$	15,712		$	13,210
Preferred stock dividends	(465		)	(503		)	(1,328		)	(1,321		)
Net income applicable to common shareholders	$	5,122		$	4,452		$	14,384		$	11,889
Average common shares issued and outstanding	10,197,891			10,250,124			10,103,386			10,312,878
Earnings per common share	$	0.50		$	0.43		$	1.42		$	1.15

Diluted earnings per common share
Net income applicable to common shareholders	$	5,122		$	4,452		$	14,384		$	11,889
Add preferred stock dividends due to assumed conversions ⁽¹⁾	36			75			186			225
Net income allocated to common shareholders	$	5,158		$	4,527		$	14,570		$	12,114
Average common shares issued and outstanding	10,197,891			10,250,124			10,103,386			10,312,878
Dilutive potential common shares ⁽²⁾	527,591			750,349			717,039			733,929
Total diluted average common shares issued and outstanding	10,725,482			11,000,473			10,820,425			11,046,807
Diluted earnings per common share	$	0.48		$	0.41		$	1.35		$	1.10


⁽¹⁾	Represents the Series T dividends under the "if-converted" method prior to conversion.


⁽²⁾	Includes incremental dilutive shares from restricted stock units, restricted stock and warrants.