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Earnings (Loss) Per Common Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share
Basic and diluted earnings (loss) per common share for the years ended December 31, 2015, 2014 and 2013 were calculated as follows:
 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(Dollars in millions, except per share amounts, shares in thousands)
Income (Loss) (Numerator):
 
 
 
 
 
Net income (loss)
$
878

 
772

 
(239
)
Earnings applicable to non-vested restricted stock
—

 
—

 
—

Net income (loss) applicable to common stock for computing basic earnings (loss) per common share
878

 
772

 
(239
)
Net income (loss) as adjusted for purposes of computing diluted earnings (loss) per common share
$
878

 
772

 
(239
)
Shares (Denominator):
 
 
 
 
 
Weighted average number of shares:
 
 
 
 
 
Outstanding during period
559,260

 
572,748

 
604,404

Non-vested restricted stock
(4,982
)
 
(4,313
)
 
(3,512
)
Weighted average shares outstanding for computing basic earnings (loss) per common share
554,278

 
568,435

 
600,892

Incremental common shares attributable to dilutive securities:
 
 
 
 
 
Shares issuable under convertible securities
10

 
10

 
—

Shares issuable under incentive compensation plans
805

 
1,294

 
—

Number of shares as adjusted for purposes of computing diluted earnings (loss) per common share
555,093

 
569,739

 
600,892

Basic earnings (loss) per common share
$
1.58

 
1.36

 
(0.40
)
Diluted earnings (loss) per common share
$
1.58

 
1.36

 
(0.40
)

Our calculation of diluted earnings (loss) per common share excludes shares of common stock that are issuable upon exercise of stock options when the exercise price is greater than the average market price of our common stock. We also exclude unvested restricted stock awards that are antidilutive as a result of unrecognized compensation cost. Such shares averaged 3.1 million, 2.5 million and 2.7 million for 2015, 2014 and 2013, respectively. For the year ended December 31, 2013, due to the net loss position, we excluded from the calculation of diluted loss per share 1.3 million shares which were potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive.