| Basic and diluted earnings loss per share |
The calculation of basic and diluted earnings per share for each of the three years ended December 31 was as follows:
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Year Ended December 31, |
(amounts in millions, except per share data, share count in thousands) |
2019 |
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2018 |
|
2017 |
Basic earnings per common share: |
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Net income |
$ |
1,411 |
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$ |
1,393 |
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$ |
1,186 |
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Preferred stock dividends |
(74 |
) |
|
(70 |
) |
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(76 |
) |
Net income available to common shareholders |
$ |
1,337 |
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$ |
1,323 |
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$ |
1,110 |
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Average common shares issued and outstanding |
1,038,840 |
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1,081,542 |
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|
1,084,686 |
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Basic earnings per common share |
$ |
1.29 |
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$ |
1.22 |
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$ |
1.02 |
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Diluted earnings per common share: |
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Net income available to common shareholders |
$ |
1,337 |
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$ |
1,323 |
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$ |
1,110 |
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Effect of assumed preferred stock conversion |
— |
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— |
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31 |
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Net income applicable to diluted earnings per share |
$ |
1,337 |
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$ |
1,323 |
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$ |
1,141 |
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Average common shares issued and outstanding |
1,038,840 |
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1,081,542 |
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1,084,686 |
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Dilutive potential common shares |
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Stock options and restricted stock units and awards |
12,994 |
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16,529 |
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17,883 |
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Shares held in deferred compensation plans |
4,245 |
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3,511 |
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3,160 |
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Dilutive impact of Preferred Stock |
— |
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4,403 |
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|
30,330 |
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Other |
— |
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— |
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|
127 |
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Dilutive potential common shares |
17,239 |
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|
24,443 |
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|
51,500 |
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Total diluted average common shares issued and outstanding |
1,056,079 |
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1,105,985 |
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1,136,186 |
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Diluted earnings per common share |
$ |
1.27 |
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$ |
1.20 |
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$ |
1.00 |
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Anti-dilutive awards (1) |
5,253 |
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2,307 |
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1,009 |
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