Earnings Per Common Share (EPS) (Tables)

6 Months Ended

Jun. 30, 2018

The computations of basic and diluted EPS were as follows:

			Three Months Ended				Six Months Ended
			June 30,				June 30,
(Millions, except per share amounts)			2018			2017	2018			2017
Numerator:
	Basic and diluted:
		Net income	$	1,623	$	1,344	$	3,257	$	2,595
		Preferred dividends		(20)		(19)		(41)		(40)
		Net income available to common shareholders		1,603		1,325		3,216		2,555
		Earnings allocated to participating share awards^(a)		(12)		(11)		(25)		(21)
		Net income attributable to common shareholders	$	1,591	$	1,314	$	3,191	$	2,534
Denominator:^(a)
	Basic: Weighted-average common stock			860		890		859		895
	Add: Weighted-average stock options ^(b)			2		3		3		3
	Diluted			862		893		862		898
Basic EPS			$	1.85	$	1.48	$	3.71	$	2.83
Diluted EPS			$	1.84	$	1.47	$	3.70	$	2.82

Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator.
The dilutive effect of unexercised stock options excludes from the computation of EPS 0.7 million and 1.2 million of options for the three months ended June 30, 2018 and 2017, respectively, and 0.7 million and 1.2 million of options for the six months ended June 30, 2018 and 2017, respectively, because inclusion of the options would have been anti-dilutive.