| 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 millions, except per share amounts) |
2017 |
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2016 |
|
2015 |
Basic earnings per common share: |
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Net income |
$ |
1,186 |
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|
$ |
712 |
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|
$ |
693 |
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Preferred stock dividends |
(76 |
) |
|
(65 |
) |
|
(32 |
) |
Net income available to common shareholders |
$ |
1,110 |
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$ |
647 |
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$ |
661 |
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Average common shares issued and outstanding (000) |
1,084,686 |
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|
904,438 |
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|
803,412 |
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Basic earnings per common share |
$ |
1.02 |
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$ |
0.72 |
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$ |
0.82 |
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Diluted earnings per common share: |
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Net income available to common shareholders |
$ |
1,110 |
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$ |
647 |
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$ |
661 |
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Effect of assumed preferred stock conversion |
31 |
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— |
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— |
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Net income applicable to diluted earnings per share |
$ |
1,141 |
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$ |
647 |
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$ |
661 |
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Average common shares issued and outstanding (000) |
1,084,686 |
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|
904,438 |
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|
803,412 |
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Dilutive potential common shares |
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Stock options and restricted stock units and awards |
17,883 |
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|
11,728 |
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|
11,633 |
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Shares held in deferred compensation plans |
3,160 |
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2,486 |
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1,912 |
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Other |
30,457 |
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|
138 |
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|
172 |
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Dilutive potential common shares |
51,500 |
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|
14,352 |
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|
13,717 |
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Total diluted average common shares issued and outstanding (000) |
1,136,186 |
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|
918,790 |
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|
817,129 |
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Diluted earnings per common share |
$ |
1.00 |
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$ |
0.70 |
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$ |
0.81 |
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