Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2021

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,	2021				2020				2019
	Common Stock		Nonvoting Common Stock (1)		Common Stock		Nonvoting Common Stock (1)		Common Stock		Nonvoting Common Stock (1)
Basic earnings per share:
Numerator
Net income	$	5,610	$	245	$	3,255	$	44	$	3,704	N/A
Preferred stock dividends and other (2)	(474)		(21)		(253)		(3)		(178)		N/A
Net income available to common stockholders	$	5,136	$	224	$	3,002	$	41	$	3,526	N/A
Denominator
Weighted-average common shares outstanding — basic	1,808		79		1,410		19		1,311		N/A
Basic earnings per share	$	2.84	$	2.84	$	2.13	$	2.13	$	2.69	N/A
Diluted earnings per share:
Numerator
Net income available to common stockholders	$	5,136	$	224	$	3,002	$	41	$	3,526	N/A
Reallocation of net income available to common stockholders as a result of conversion of nonvoting to voting shares	224		—		41		—		N/A		N/A
Allocation of net income available to common stockholders:	$	5,360	$	224	$	3,043	$	41	$	3,526	N/A
Denominator
Weighted-average common shares outstanding — basic	1,808		79		1,410		19		1,311		N/A
Conversion of nonvoting shares to voting shares	79		—		19		—		N/A		N/A
Common stock equivalent shares related to stock incentive plans	10		—		6		—		9		N/A
Weighted-average common shares outstanding — diluted (3)	1,897		79		1,435		19		1,320		N/A
Diluted earnings per share	$	2.83	$	2.83	$	2.12	$	2.12	$	2.67	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 in 2019.

(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 16 million, 22 million, and 21 million in 2021, 2020, and 2019 respectively.

N/A Not applicable.