Net Income/(Loss) Per Common Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Net Income/(Loss) Per Share

NOTE 9 – NET INCOME PER COMMON SHARE

Equivalent shares of 14 million and 16 million related to common stock options and common stock warrants outstanding at March 31, 2015 and 2014, 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 are included below.

	Three Months Ended March 31
(Dollars and shares in millions, except per share data)	2015			2014
Net income		$429			$405
Preferred dividends	(17		)	(9		)
Dividends and undistributed earnings allocated to unvested shares	(1		)	(3		)
Net income available to common shareholders		$411			$393
Average basic common shares	521			531
Effect of dilutive securities:
Stock options	2			2
Restricted stock and warrants	4			4
Average diluted common shares	527			537
Net income per average common share - diluted		$0.78			$0.73
Net income per average common share - basic		$0.79			$0.74