XML 88 R18.htm IDEA: XBRL DOCUMENT v3.3.0.814
Net Income/(Loss) Per Common Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Net Income/(Loss) Per Share
NOTE 9 – NET INCOME PER COMMON SHARE
Equivalent shares of 14 million and 15 million related to common stock options and common stock warrants outstanding at September 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 September 30
 
Nine Months Ended September 30
(Dollars and shares in millions, except per share data)
2015
 
2014
 
2015
 
2014
Net income

$537

 

$576

 

$1,449

 

$1,380

Preferred dividends
(16
)
 
(9
)
 
(48
)
 
(28
)
Dividends and undistributed earnings allocated to unvested shares
(2
)
 
(4
)
 
(5
)
 
(9
)
Net income available to common shareholders

$519

 

$563

 

$1,396

 

$1,343

Average basic common shares
513

 
527

 
517

 
529

Effect of dilutive securities:
 
 
 
 
 
 
 
Stock options
2

 
2

 
2

 
2

Restricted stock, RSUs, and warrants
4

 
4

 
4

 
4

Average diluted common shares
519

 
533

 
523

 
535

Net income per average common share - diluted

$1.00

 

$1.06

 

$2.67

 

$2.51

Net income per average common share - basic

$1.01

 

$1.07

 

$2.70

 

$2.54