Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Calculation of earnings per common share and diluted earnings per common share

The calculation of EPS and diluted EPS for 2020, 2019 and 2018 is presented below. For more information on the calculation of EPS, see Note 1 – Summary of Significant Accounting Principles.

(In millions, except per share information)	2020		2019		2018
Earnings per common share
Net income	$	17,894	$	27,430	$	28,147
Preferred stock dividends	(1,421)		(1,432)		(1,451)
Net income applicable to common shareholders	$	16,473	$	25,998	$	26,696
Average common shares issued and outstanding	8,753.2		9,390.5		10,096.5
Earnings per common share	$	1.88	$	2.77	$	2.64
Diluted earnings per common share
Net income applicable to common shareholders	$	16,473	$	25,998	$	26,696
Average common shares issued and outstanding	8,753.2		9,390.5		10,096.5
Dilutive potential common shares (1)	43.7		52.4		140.4
Total diluted average common shares issued and outstanding	8,796.9		9,442.9		10,236.9
Diluted earnings per common share	$	1.87	$	2.75	$	2.61

(1)Includes incremental dilutive shares from RSUs, restricted stock and warrants.