Earnings Per Common Share (EPS)

9 Months Ended

Sep. 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				Nine Months Ended
			September 30,				September 30,
(Millions, except per share amounts)			2016			2015	2016			2015
Numerator:
	Basic and diluted:
		Net income	$	1,142	$	1,266	$	4,583	$	4,264
		Preferred dividends		(21)		(22)		(61)		(42)
		Net income available to common shareholders		1,121		1,244		4,522		4,222
		Earnings allocated to participating share awards(a)		(9)		(10)		(37)		(32)
		Net income attributable to common shareholders	$	1,112	$	1,234	$	4,485	$	4,190
Denominator: (a)
	Basic: Weighted-average common stock			920		994		940		1,007
	Add: Weighted-average stock options (b)			3		3		3		4
	Diluted			923		997		943		1,011
Basic EPS			$	1.21	$	1.24	$	4.77	$	4.16
Diluted EPS			$	1.20	$	1.24	$	4.76	$	4.15

• 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 3.2million and 0.6million of options for the three months ended September 30, 2016 and 2015, respectively, and 2.2million and 0.5million of options for the nine months endedSeptember 30, 2016 and 2015, respectively, because inclusion of the options would have been anti-dilutive.