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Net Income Per Common Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Net Income/(Loss) Per Share
NOTE 12 – NET INCOME PER COMMON SHARE
Equivalent shares of 1 million, 14 million, and 15 million related to common stock options and common stock warrants outstanding at December 31, 2016, 2015, and 2014, respectively, were excluded from the computations of diluted net income per average common share because they would have been anti-dilutive. On April 1, 2016, the Company early adopted ASU 2016-09, which provides improvements to employee share-based payment accounting, with an effective date of January 1, 2016. The early adoption favorably impacted basic EPS by $0.03 per share and diluted EPS by $0.02 per share for the year ended December 31, 2016. See Note 1, "Significant Accounting Policies," for additional information.
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 in the following table.
 
Year Ended December 31
(Dollars and shares in millions, except per share data)
2016
 
2015
 
2014
Net income

$1,878

 

$1,933

 

$1,774

Preferred dividends
(66
)
 
(64
)
 
(42
)
Dividends and undistributed earnings allocated to unvested shares
(1
)
 
(6
)
 
(10
)
Net income available to common shareholders

$1,811

 

$1,863

 

$1,722

 
 
 
 
 
 
Average basic common shares
499

 
515

 
528

Effect of dilutive securities:
 
 
 
 
 
Stock options
1

 
2

 
1

Restricted stock, RSUs, and warrants
3

 
4

 
4

Average diluted common shares
503

 
521

 
533

 
 
 
 
 
 
Net income per average common share - diluted

$3.60

 

$3.58

 

$3.23

Net income per average common share - basic
3.63

 
3.62

 
3.26