EARNINGS PER SHARE
|3 Months Ended|
Mar. 31, 2018
|Earnings Per Share [Abstract]|
|EARNINGS PER SHARE||
EARNINGS PER SHARE
Basic earnings per share is the amount of earnings (adjusted for dividends declared on preferred stock) available to each share of common stock outstanding during the reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and awards, distributions from deferred compensation plans, and the conversion of the Company’s convertible preferred stock. Potentially dilutive common shares are excluded from the computation of diluted earnings per share during periods in which the effect would be antidilutive.
On February 22, 2018, Huntington converted of all its outstanding 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock to 30.3 million shares of common stock. Following the conversion, the additional shares were included in average common shares issued and outstanding. The 2018 total diluted average common shares issued and outstanding was impacted by using the if-converted method. The calculation of basic and diluted earnings per share for the three-month periods ended March 31, 2018 and 2017 was as follows:
There were approximately 0.1 million and 0.9 million of options to purchase shares of common stock outstanding for the three-month periods ended March 31, 2018 and 2017, respectively. These options were not included in the computation of diluted earnings per share because the effect would be antidilutive.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef