

	Three months ended September 30,				Nine months ended September 30,
(in millions, except per share amounts)	2011		2010		2011		2010
Basic earnings per share
Net income	$	4,262	$	4,418	$	15,248	$	12,539
Less: Preferred stock dividends	157		160		472		485
Net income applicable to common equity	4,105		4,258		14,776		12,054
Less: Dividends and undistributed earnings allocated to participating securities	169		239		635		701
Net income applicable to common stockholders	$	3,936	$	4,019	$	14,141	$	11,353
Total weighted-average basic shares outstanding	3,859.6		3,954.3		3,933.2		3,969.4
Net income per share	$	1.02	$	1.02	$	3.60	$	2.86

	Three months ended September 30,				Nine months ended September 30,
(in millions, except per share amounts)	2011		2010		2011		2010
Diluted earnings per share
Net income applicable to common stockholders	$	3,936	$	4,019	$	14,141	$	11,353
Total weighted-average basic shares outstanding	3,859.6		3,954.3		3,933.2		3,969.4
Add: Employee stock options, SARs and warrants^(a)	12.6		17.6		23.3		21.3
Total weighted-average diluted shares outstanding^(b)	3,872.2		3,971.9		3,956.5		3,990.7
Net income per share	$	1.02	$	1.01	$	3.57	$	2.84

(a)

Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans and the warrants originally issued in 2008 under the U.S. Treasury’s Capital Purchase Program to purchase shares of the Firm’s common stock. The aggregate number of shares issuable upon the exercise of such options and warrants was 197 million and 236 million for the three months ended September 30, 2011 and 2010, respectively, and 112 million and 233 million for the nine months ended September 30, 2011 and 2010, respectively.


(b)	Participating securities were included in the calculation of diluted EPS using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method.