| 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, |
(dollar amounts in thousands, except per share amounts) |
2016 |
|
2015 |
|
2014 |
Basic earnings per common share: |
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|
|
|
Net income |
$ |
711,821 |
|
|
$ |
692,957 |
|
|
$ |
632,392 |
|
Preferred stock dividends |
(65,274 |
) |
|
(31,873 |
) |
|
(31,854 |
) |
Net income available to common shareholders |
$ |
646,547 |
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|
$ |
661,084 |
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|
$ |
600,538 |
|
Average common shares issued and outstanding |
904,438 |
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|
803,412 |
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|
819,917 |
|
Basic earnings per common share: |
$ |
0.72 |
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|
$ |
0.82 |
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|
$ |
0.73 |
|
Diluted earnings per common share |
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|
|
|
|
Net income available to common shareholders |
$ |
646,547 |
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|
$ |
661,084 |
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|
$ |
600,538 |
|
Effect of assumed preferred stock conversion |
— |
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|
— |
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|
— |
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Net income applicable to diluted earnings per share |
$ |
646,547 |
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|
$ |
661,084 |
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|
$ |
600,538 |
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Average common shares issued and outstanding |
904,438 |
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|
803,412 |
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|
819,917 |
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Dilutive potential common shares: |
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|
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Stock options and restricted stock units and awards |
11,728 |
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|
11,633 |
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|
11,421 |
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Shares held in deferred compensation plans |
2,486 |
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|
1,912 |
|
|
1,420 |
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Other |
138 |
|
|
172 |
|
|
323 |
|
Dilutive potential common shares: |
14,352 |
|
|
13,717 |
|
|
13,164 |
|
Total diluted average common shares issued and outstanding |
918,790 |
|
|
817,129 |
|
|
833,081 |
|
Diluted earnings per common share |
$ |
0.70 |
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|
$ |
0.81 |
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$ |
0.72 |
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