Earnings Per Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share

Earnings Per Share

21. Earnings Per Share

The following table provides the calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share:
		2018				2017
For the three months ended March 31,			Average	Per Share		Average	Per Share
(in millions, except per share data)		Income	Shares	Amount	Income	Shares	Amount
Earnings Per Share:
Net income available to common shareholders	$	689			290
Less: Income allocated to participating securities		8			4
Net income allocated to common shareholders	$	681	690	0.99	286	748	0.38
Earnings Per Diluted Share:
Net income available to common shareholders	$	689			290
Effect of dilutive securities:
Stock-based awards		-	14		-	13
Net income available to common shareholders		689			290
plus assumed conversions
Less: Income allocated to participating securities		8			4
Net income allocated to common shareholders
plus assumed conversions	$	681	704	0.97	286	761	0.38

Shares are excluded from the computation of earnings per diluted share when their inclusion has an anti-dilutive effect on earnings per share. The diluted earnings per share computation for the three months ended March 31, 2018 and March 31, 2017excludes 2million and 6 million, respectively, of SARs and an immaterial amount of stock options because their inclusion would have been anti-dilutive.