Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per common share

Basic and diluted earnings per common share for the three and six months ended June 30, 2014 and 2013 were calculated as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014		2013
	(Dollars in millions, except per share amounts, shares in thousands)
Income (Numerator):
Net income	$	193		269		396		567
Earnings applicable to non-vested restricted stock	—			—		—		—
Net income applicable to common stock for computing basic earnings per common share	193			269		396		567
Net income as adjusted for purposes of computing diluted earnings per common share	$	193		269		396		567
Shares (Denominator):
Weighted average number of shares:
Outstanding during period	572,240			607,755		575,218		615,138
Non-vested restricted stock	(4,325		)	(3,453	)	(3,993	)	(3,276	)
Weighted average shares outstanding for computing basic earnings per common share	567,915			604,302		571,225		611,862
Incremental common shares attributable to dilutive securities:
Shares issuable under convertible securities	10			10		10		10
Shares issuable under incentive compensation plans	1,107			1,290		1,009		1,466
Number of shares as adjusted for purposes of computing diluted earnings per common share	569,032			605,602		572,244		613,338
Basic earnings per common share	$	0.34		0.45		0.69		0.93
Diluted earnings per common share	$	0.34		0.44		0.69		0.92