Earnings per Share

9 Months Ended

Sep. 30, 2019

EARNINGS PER SHARE

Table 65: Basic and Diluted Earnings Per Common Share



	Three months ended September 30				Nine months ended September 30
In millions, except per share data	2019		2018		2019		2018
Basic
Net income	$	1,392	$	1,400	$	4,037	$	3,995
Less:
Net income attributable to noncontrolling interests	13		11		35		31
Preferred stock dividends	63		63		181		181
Preferred stock discount accretion and redemptions	1		1		3		3
Net income attributable to common shareholders	1,315		1,325		3,818		3,780
Less: Dividends and undistributed earnings allocated to participating securities	6		6		15		16
Net income attributable to basic common shareholders	$	1,309	$	1,319	$	3,803	$	3,764
Basic weighted-average common shares outstanding	444		465		450		469
Basic earnings per common share (a)	$	2.95	$	2.84	$	8.45	$	8.03
Diluted
Net income attributable to basic common shareholders	$	1,309	$	1,319	$	3,803	$	3,764
Less: Impact of BlackRock earnings per share dilution	2		2		7		7
Net income attributable to diluted common shareholders	$	1,307	$	1,317	$	3,796	$	3,757
Basic weighted-average common shares outstanding	444		465		450		469
Dilutive potential common shares	1		2		1		3
Diluted weighted-average common shares outstanding	445		467		451		472
Diluted earnings per common share (a)	$	2.94	$	2.82	$	8.42	$	7.96

(a)

Basic and diluted earnings per share under the two-class method are determined on net income reported on the income statement less earnings allocated to nonvested restricted shares and restricted share units with nonforfeitable dividends and dividend rights (participating securities).