EPS under Basic and Diluted Computations |
EPS under the basic and diluted computations for both common stock and nonvoting common stock are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | 2021 | 2020 | 2021 | 2020 | | Common Stock | Common Stock – Nonvoting (1) | 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 | $ | 1,212 | | $ | 53 | | $ | 671 | | N/A | $ | 2,634 | | $ | 115 | | $ | 1,466 | | N/A | Preferred stock dividends and other (2) | (142) | | (6) | | (50) | | N/A | (234) | | (10) | | (88) | | N/A | Net income available to common stockholders | $ | 1,070 | | $ | 47 | | $ | 621 | | N/A | $ | 2,400 | | $ | 105 | | $ | 1,378 | | N/A | Denominator | | | | | | | | | Weighted-average common shares outstanding — basic | 1,807 | | 79 | | 1,288 | | N/A | 1,805 | | 79 | | 1,287 | | N/A | Basic earnings per share | $ | .59 | | $ | .59 | | $ | .48 | | N/A | $ | 1.33 | | $ | 1.33 | | $ | 1.07 | | N/A | Diluted earnings per share: | | | | | | | | | Numerator | | | | | | | | | Net income available to common stockholders | $ | 1,070 | | $ | 47 | | $ | 621 | | N/A | $ | 2,400 | | $ | 105 | | $ | 1,378 | | N/A | Reallocation of net income available to common stockholders as a result of conversion of nonvoting to voting shares | 47 | | — | | N/A | N/A | 105 | | — | | N/A | N/A | Allocation of net income available to common stockholders: | $ | 1,117 | | $ | 47 | | $ | 621 | | N/A | $ | 2,505 | | $ | 105 | | $ | 1,378 | | N/A | Denominator | | | | | | | | | Weighted-average common shares outstanding — basic | 1,807 | | 79 | | 1,288 | | N/A | 1,805 | | 79 | | 1,287 | | N/A | Conversion of nonvoting shares to voting shares | 79 | | — | | N/A | N/A | 79 | | — | | N/A | N/A | Common stock equivalent shares related to stock incentive plans | 10 | | — | | 6 | | N/A | 10 | | — | | 7 | | N/A | Weighted-average common shares outstanding — diluted (3) | 1,896 | | 79 | | 1,294 | | N/A | 1,894 | | 79 | | 1,294 | | N/A | Diluted earnings per share | $ | .59 | | $ | .59 | | $ | .48 | | N/A | $ | 1.32 | | $ | 1.32 | | $ | 1.07 | | N/A |
(1) Nonvoting common stock was issued in conjunction with the October 6, 2020 acquisition of TD Ameritrade. As such, nonvoting common stock is not applicable for the basic and diluted EPS computations for the three and six months ended June 30, 2020. (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 14 million and 15 million for the three and six months ended June 30, 2021, respectively, and 19 million for the three and six months ended June 30, 2020. N/A Not applicable.
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