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Net Income/(Loss) Per Common Share
 6 Months Ended
Jun. 30, 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 June 30, 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 presented below.
 
Three Months Ended June 30
 
Six Months Ended June 30
(Dollars and shares in millions, except per share data)
2015
 
2014
 
2015
 
2014
Net income

$483

 

$399

 

$912

 

$804

Preferred dividends
(15
)
 
(9
)
 
(32
)
 
(19
)
Dividends and undistributed earnings allocated to unvested shares
(1
)
 
(3
)
 
(3
)
 
(5
)
Net income available to common shareholders

$467

 

$387

 

$877

 

$780

Average basic common shares
517

 
530

 
519

 
530

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options
1

 
1

 
2

 
2

Restricted stock and warrants
4

 
4

 
4

 
4

Average diluted common shares
522

 
535

 
525

 
536

Net income per average common share - diluted

$0.89

 

$0.72

 

$1.67

 

$1.45

Net income per average common share - basic

$0.90

 

$0.73

 

$1.69

 

$1.47