Net Income Per Common Share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Net Income/(Loss) Per Share

NOTE 11 – NET INCOME PER COMMON SHARE

Equivalent shares of less than 1 million related to common stock options and warrants outstanding at June 30, 2017 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 average basic common shares outstanding to average diluted common shares outstanding are presented in the following table.

	Three Months Ended June 30						Six Months Ended June 30
(Dollars and shares in millions, except per share data)	2018			2017			2018			2017
Net income		$722			$528			$1,365			$995
Less:
Preferred stock dividends	(25		)	(23		)	(55		)	(39		)
Net income available to common shareholders		$697			$505			$1,310			$956
Average common shares outstanding - basic	465.5			482.9			467.1			486.5
Add dilutive securities:
RSUs	2.6			2.7			2.7			2.9
Common stock warrants and restricted stock	0.6			1.6			1.1			1.7
Stock options	0.6			0.8			0.6			0.9
Average common shares outstanding - diluted	469.3			488.0			471.5			492.0
Net income per average common share - diluted		$1.49			$1.03			$2.78			$1.94
Net income per average common share - basic	1.50			1.05			2.80			1.97