Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share

Calculation of Earnings Per Share and the Reconciliation of Earnings Per Share to Earnings Per Diluted Share

The calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share were as follows:
		2013			2012
For the three months ended September 30,			Average	Per Share		Average	Per Share
(in millions, except per share data)		Income	Shares	Amount	Income	Shares	Amount
Earnings per share:
Net income attributable to Bancorp	$	421			363
Dividends on preferred stock		-			9
Net income available to common shareholders		421			354
Less: Income allocated to participating securities		3			2
Net income allocated to common shareholders	$	418	880	0.47	352	904	0.39
Earnings per diluted share:
Net income available to common shareholders	$	421			354
Effect of dilutive securities:
Stock-based awards		-	8	-	-	5	-
Series G convertible preferred stock		-	-	-	9	36	(0.01)
Net income available to common shareholders		421			363
plus assumed conversions
Less: Income allocated to participating securities		3			2
Net income allocated to common shareholders
plus assumed conversions	$	418	888	0.47	361	945	0.38
		2013			2012
For the nine months ended September 30,			Average	Per Share		Average	Per Share
(in millions, except per share data)		Income	Shares	Amount	Income	Shares	Amount
Earnings per share:
Net income attributable to Bancorp	$	1,433			1,178
Dividends on preferred stock		18			26
Net income available to common shareholders		1,415			1,152
Less: Income allocated to participating securities		10			7
Net income allocated to common shareholders	$	1,405	870	1.62	1,145	911	1.26
Earnings per diluted share:
Net income available to common shareholders	$	1,415			1,152
Effect of dilutive securities:
Stock-based awards		-	7	-	-	5	-
Series G convertible preferred stock		18	24	(0.04)	26	36	(0.03)
Net income available to common shareholders		1,433			1,178
plus assumed conversions
Less: Income allocated to participating securities		10			7
Net income allocated to common shareholders
plus assumed conversions	$	1,423	901	1.58	1,171	952	1.23