| Earnings Per Common Share |
| | Note 19: Earnings and Dividends Per Common Share |
Table 19.1 shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. Table 19.1: Earnings Per Common Share Calculations | | | | | | | | | | | | | | | | Quarter ended September 30, | | | Nine months ended September 30, | | (in millions, except per share amounts) | 2018 |
| | 2017 |
| | 2018 |
| | 2017 |
| Wells Fargo net income (1) | $ | 6,007 |
| | 4,542 |
| | $ | 16,329 |
| | 16,032 |
| Less: Preferred stock dividends and other (2) | 554 |
| | 411 |
| | 1,351 |
| | 1,218 |
| Wells Fargo net income applicable to common stock (numerator) (1) | $ | 5,453 |
| | 4,131 |
| | $ | 14,978 |
| | 14,814 |
| Earnings per common share | | | | | | | | Average common shares outstanding (denominator) | 4,784.0 |
| | 4,948.6 |
| | 4,844.8 |
| | 4,982.1 |
| Per share (1) | $ | 1.14 |
| | 0.83 |
| | $ | 3.09 |
| | 2.97 |
| Diluted earnings per common share | | | | | | | | Average common shares outstanding | 4,784.0 |
| | 4,948.6 |
| | 4,844.8 |
| | 4,982.1 |
| Add: Stock options | 7.5 |
| | 15.8 |
| | 8.5 |
| | 18.1 |
| Restricted share rights | 26.5 |
| | 22.4 |
| | 25.9 |
| | 24.1 |
| Warrants | 5.2 |
| | 10.0 |
| | 5.8 |
| | 11.1 |
| Diluted average common shares outstanding (denominator) | 4,823.2 |
| | 4,996.8 |
| | 4,885.0 |
| | 5,035.4 |
| Per share (1) | $ | 1.13 |
| | 0.83 |
| | $ | 3.07 |
| | 2.94 |
|
| | (1) | Financial information for the prior period has been revised to reflect the impact of the adoption of ASU 2017-12 – Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, effective January 1, 2017. |
| | (2) | The quarter and nine months ended September 30, 2018, includes $155 million as a result of eliminating the discount on our Series J Preferred Stock, which was redeemed on September 17, 2018. |
Table 19.2 presents the outstanding options to purchase shares of common stock that were anti-dilutive (the exercise price was higher than the weighted-average market price), and therefore not included in the calculation of diluted earnings per common share.
Table 19.2: Outstanding Anti-Dilutive Options | | | | | | | | | | | | | | Weighted-average shares | | | Quarter ended September 30, | | | Nine months ended September 30, | | (in millions) | 2018 |
| | 2017 |
| | 2018 |
| | 2017 |
| Options | — |
| | 1.8 |
| | 0.4 |
| | 2.0 |
|
Table 19.3 presents dividends declared per common share. Table 19.3: Dividends Declared Per Common Share | | | | | | | | | | | | | | | Quarter ended September 30, | | | Nine months ended September 30, | | | 2018 |
| | 2017 |
| | 2018 |
| | 2017 |
| Per common share | $ | 0.430 |
| | 0.390 |
| | 1.210 |
| | 1.150 |
|
|