Earnings Per Common Share

Basic and diluted earnings per common share were calculated as follows:



	Three Months Ended March 31,
	2018			2017
	(Dollars in millions, except per share amounts, shares in thousands)
Income (Numerator):
Net income	$	115		163
Earnings applicable to non-vested restricted stock	—			—
Net income applicable to common stock for computing basic earnings per common share	115			163
Net income as adjusted for purposes of computing diluted earnings per common share	$	115		163
Shares (Denominator):
Weighted-average number of shares:
Outstanding during period	1,073,560			547,618
Non-vested restricted stock	(7,764		)	(7,160	)
Weighted-average shares outstanding for computing basic earnings per common share	1,065,796			540,458
Incremental common shares attributable to dilutive securities:
Shares issuable under convertible securities	10			10
Shares issuable under incentive compensation plans	3,377			1,054
Number of shares as adjusted for purposes of computing diluted earnings per common share	1,069,183			541,522
Basic earnings per common share	$	0.11		0.30
Diluted earnings per common share	$	0.11		0.30

Our calculation of diluted earnings per common share excludes shares of common stock that are issuable upon exercise of stock options when the exercise price is greater than the average market price of our common stock. We also exclude unvested restricted stock awards that are antidilutive as a result of unrecognized compensation cost. Such shares averaged 4.3 million and 4.3 million for the three months ended March 31, 2018 and 2017, respectively.