Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

EPS under Basic and Diluted Computations

EPS under the basic and diluted computations for both common stock and nonvoting common stock are as follows:


Year Ended December 31,	2020				2019			2018
	Common Stock		Common Stock – Nonvoting (1)		Common Stock		Common Stock – Nonvoting (1)	Common Stock		Common Stock – Nonvoting (1)
Basic earnings per share:
Numerator
Net income	$	3,255	$	44	$	3,704	N/A	$	3,507	N/A
Preferred stock dividends and other (2)	(253)		(3)		(178)		N/A	(178)		N/A
Net income available to common stockholders	$	3,002	$	41	$	3,526	N/A	$	3,329	N/A
Denominator
Weighted-average common shares outstanding — basic	1,410		19		1,311		N/A	1,348		N/A
Basic earnings per share	$	2.13	$	2.13	$	2.69	N/A	$	2.47	N/A
Diluted earnings per share:
Numerator
Net income available to common stockholders	$	3,002	$	41	$	3,526	N/A	$	3,329	N/A
Reallocation of net income available to common stockholders as a result of conversion of nonvoting to voting shares	41		—		N/A		N/A	N/A		N/A
Allocation of net income available to common stockholders:	$	3,043	$	41	$	3,526	N/A	$	3,329	N/A
Denominator
Weighted-average common shares outstanding — basic	1,410		19		1,311		N/A	1,348		N/A
Conversion of nonvoting shares to voting shares	19		—		N/A		N/A	N/A		N/A
Common stock equivalent shares related to stock incentive plans	6		—		9		N/A	13		N/A
Weighted-average common shares outstanding — diluted (3)	1,435		19		1,320		N/A	1,361		N/A
Diluted earnings per share	$	2.12	$	2.12	$	2.67	N/A	$	2.45	N/A

(1) Nonvoting common stock was issued on October 6, 2020 in conjunction with the acquisition of TD Ameritrade. As such, nonvoting common stock is not applicable for the basic and diluted EPS computations in 2019 and 2018.

(2) Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.

(3) Antidilutive stock options and restricted stock units excluded from the calculation of diluted EPS totaled 22 million, 21 million, and 18 million in 2020, 2019, and 2018, respectively.

N/A Not applicable.