(Loss) Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per common share

Basic and diluted (loss) earnings per common share were calculated as follows:

	Three Months Ended March 31,
	2019			2018
	(Dollars in millions, except per share amounts, shares in thousands)
(Loss) Income (Numerator):
Net (loss) income	$	(6,165	)	115
Net (loss) income applicable to common stock for computing basic earnings per common share	(6,165		)	115
Net (loss) income as adjusted for purposes of computing diluted earnings per common share	$	(6,165	)	115
Shares (Denominator):
Weighted-average number of shares:
Outstanding during period	1,083,588			1,073,560
Non-vested restricted stock	(14,710		)	(7,764	)
Weighted-average shares outstanding for computing basic earnings per common share	1,068,878			1,065,796
Incremental common shares attributable to dilutive securities:
Shares issuable under convertible securities	—			10
Shares issuable under incentive compensation plans	—			3,377
Number of shares as adjusted for purposes of computing diluted (loss) earnings per common share	1,068,878			1,069,183
Basic (loss) earnings per common share	$	(5.77	)	0.11
Diluted (loss) earnings per common share (1)	$	(5.77	)	0.11

______________________________________________________________________ 

(1) For the three months ended March 31, 2019, we excluded from the calculation of diluted loss per share 3.3 million shares potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive.