Net Income Per Common Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Net Income/(Loss) Per Share

NOTE 12 – NET INCOME PER COMMON SHARE

Equivalent shares of 1 million and 14 million related to common stock options and common stock warrants outstanding at December 31, 2016 and 2015, 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 in the following table.

	Year Ended December 31
(Dollars and shares in millions, except per share data)	2017			2016			2015
Net income		$2,273			$1,878			$1,933
Less:
Preferred stock dividends	(94		)	(66		)	(64		)
Dividends and undistributed earnings allocated to unvested common share awards	—			(1		)	(6		)
Net income available to common shareholders		$2,179			$1,811			$1,863
Average common shares outstanding - basic	481.3			498.6			514.8
Add dilutive securities:
RSUs	3.0			2.9			2.6
Common stock warrants and restricted stock	1.8			0.6			1.7
Stock options	0.9			1.4			1.5
Average common shares outstanding - diluted	487.0			503.5			520.6
Net income per average common share - diluted		$4.47			$3.60			$3.58
Net income per average common share - basic	4.53			3.63			3.62