Earnings Per Common Share

6 Months Ended

Jun. 30, 2021

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


	Three Months Ended June 30,			Six Months Ended June 30,
	2021		2020	2021	2020
	(Dollars in millions, except per share amounts, shares in thousands)
Income (Numerator):
Net income	$	506	377	981	691
Net income applicable to common stock for computing basic earnings per common share	506		377	981	691
Net income as adjusted for purposes of computing diluted earnings per common share	$	506	377	981	691
Shares (Denominator):
Weighted-average number of shares:
Outstanding during period	1,105,403		1,097,586	1,102,877	1,095,278
Non-vested restricted stock	(18,950)		(18,111)	(18,413)	(17,523)
Weighted-average shares outstanding for computing basic earnings per common share	1,086,453		1,079,475	1,084,464	1,077,755
Incremental common shares attributable to dilutive securities:
Shares issuable under convertible securities	10		10	10	10
Shares issuable under incentive compensation plans	6,939		3,082	8,020	4,453
Number of shares as adjusted for purposes of computing diluted earnings per common share	1,093,402		1,082,567	1,092,494	1,082,218
Basic earnings per common share	$	0.47	0.35	0.90	0.64
Diluted earnings per common share	$	0.46	0.35	0.90	0.64

Our calculation of diluted earnings per common share excludes unvested restricted stock awards that are antidilutive as a result of unrecognized compensation cost. Such shares were 2.2 million and 8.7 million for the three months ended June 30, 2021 and 2020, respectively, and 1.2 million and 5.7 million for six months ended June 30, 2021 and 2020, respectively.