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Net Income/(Loss) Per Common Share
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Net Income/(Loss) Per Share
NOTE 8 – NET INCOME PER COMMON SHARE
Equivalent shares of 16 million and 22 million related to common stock options and common stock warrants outstanding at March 31, 2014 and 2013, respectively, were excluded from the computations of diluted net income per average common share because they would have been anti-dilutive.
Reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding for the three months ended March 31, 2014 and 2013 are included below.
(In millions, except per share data)
 
2014
 
2013
Net income
 

$405

 

$352

Preferred dividends
 
(9
)
 
(9
)
Dividends and undistributed earnings allocated to unvested shares
 
(3
)
 
(3
)
Net income available to common shareholders
 

$393

 

$340

Average basic common shares
 
531

 
536

Effect of dilutive securities:
 
 
 
 
Stock options
 
2

 
1

Restricted stock and warrants
 
4

 
3

Average diluted common shares
 
537

 
540

Net income per average common share - diluted
 

$0.73

 

$0.63

Net income per average common share - basic
 

$0.74

 

$0.64