Earnings per Share

12 Months Ended

Dec. 31, 2019

EARNINGS PER SHARE

Table 81: Basic and Diluted Earnings Per Common Share



In millions, except per share data	2019		2018		2017
Basic
Net income	$	5,418	$	5,346	$	5,388
Less:
Net income attributable to noncontrolling interests	49		45		50
Preferred stock dividends	236		236		236
Preferred stock discount accretion and redemptions	4		4		26
Net income attributable to common shareholders	5,129		5,061		5,076
Less: Dividends and undistributed earnings allocated to participating securities	21		21		23
Net income attributable to basic common shareholders	$	5,108	$	5,040	$	5,053
Basic weighted-average common shares outstanding	447		467		481
Basic earnings per common share (a)	$	11.43	$	10.79	$	10.49
Diluted
Net income attributable to basic common shareholders	$	5,108	$	5,040	$	5,053
Less: Impact of BlackRock earnings per share dilution	10		9		16
Net income attributable to diluted common shareholders	$	5,098	$	5,031	$	5,037
Basic weighted-average common shares outstanding	447		467		481
Dilutive potential common shares	1		3		5
Diluted weighted-average common shares outstanding	448		470		486
Diluted earnings per common share (a)	$	11.39	$	10.71	$	10.36

(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).