Earnings per Common Share

12 Months Ended

Dec. 31, 2019

EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share:

TABLE 20.1



Year Ended December 31	2019		2018		2017
(dollars in millions, except per share data)
Net income	$	387	$	373	$	199
Less: Preferred stock dividends	8		8		8
Net income available to common stockholders	$	379	$	365	$	191
Basic weighted average common shares outstanding	324,938,720		324,207,198		302,195,295
Net effect of dilutive stock options, warrants and restricted stock	1,122,418		1,416,405		1,662,681
Diluted weighted average common shares outstanding	326,061,138		325,623,603		303,857,976
Earnings per common share:
Basic	$	1.17	$	1.13	$	0.63
Diluted	$	1.16	$	1.12	$	0.63

The following table shows the average shares excluded from the above calculation as their effect would have been anti-dilutive:

TABLE 20.2



Year Ended December 31	2019	2018	2017
Average shares excluded from the diluted earnings per common share calculation	—	81	910