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Earnings Per Common Share (Tables)
9 Months Ended
Sep. 30, 2012
EPS under Basic and Diluted Computations

EPS under the basic and diluted computations is as follows:

 

     Three Months Ended
September 30,
     Nine Months Ended
September 30,
 
     2012     2011      2012     2011  

Net income

   $     247      $     220       $     717      $     701   

Preferred stock dividends

     (9             (23       
  

 

 

   

 

 

    

 

 

   

 

 

 

Net income available to common stockholders (1)

   $ 238      $ 220       $ 694      $ 701   
  

 

 

   

 

 

    

 

 

   

 

 

 

Weighted-average common shares outstanding — basic

     1,274        1,228         1,273        1,213   

Common stock equivalent shares related to stock incentive plans

     1        1         1        3   
  

 

 

   

 

 

    

 

 

   

 

 

 

Weighted-average common shares outstanding — diluted (2)

     1,275        1,229         1,274        1,216   
  

 

 

   

 

 

    

 

 

   

 

 

 

Basic EPS

   $ .19      $ .18       $ .54      $ .58   

Diluted EPS

   $ .19      $ .18       $ .54      $ .57   

 

(1) 

Net income available to participating securities (unvested restricted shares) was not material for the third quarters or first nine months of 2012 or 2011.

(2) 

Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS totaled 59 million and 50 million shares for the third quarters of 2012 and 2011, respectively, and 61 million and 48 million shares for the first nine months of 2012 and 2011, respectively.