Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Common Share (EPS)

15. Earnings Per Common Share (EPS)

The computations of basic and diluted EPS were as follows:

			Three Months Ended				Six Months Ended
			June 30,				June 30,
(Millions, except per share amounts)			2016			2015	2016			2015
Numerator:
	Basic and diluted:
		Net income	$	2,015	$	1,473	$	3,441	$	2,998
		Preferred dividends		(19)		(20)		(40)		(20)
		Net income available to common shareholders		1,996		1,453		3,401		2,978
		Earnings allocated to participating share awards(a)		(17)		(11)		(28)		(22)
		Net income attributable to common shareholders	$	1,979	$	1,442	$	3,373	$	2,956
Denominator: (a)
	Basic: Weighted-average common stock			938		1,009		949		1,013
	Add: Weighted-average stock options (b)			3		4		3		5
	Diluted			941		1,013		952		1,018
Basic EPS			$	2.11	$	1.43	$	3.55	$	2.92
Diluted EPS			$	2.10	$	1.42	$	3.54	$	2.90

• The Company’s unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator.
• The dilutive effect of unexercised stock options excludes from the computation of EPS 2.5million and 0.6million of options for the three months ended June 30, 2016 and 2015, respectively, and 1.7million and 0.5million of options for the six months endedJune 30, 2016 and 2015, respectively, because inclusion of the options would have been anti-dilutive.

For the three andsix months endedJune 30, 2016 and 2015, the Companymet specified performance measures related to the $750 million ofSubordinated Debenturesissued in 2006, and maturing in 2036. If the performance measures were not achieved in any given quarter, the Company would be required to issue common shares and apply the proceeds to make interest payments.