Earnings per Share

9 Months Ended

Sep. 30, 2011

Earnings per Share

Earnings per Share

Note 13 Earnings Per Share
Basic and Diluted Earnings per Common Share
				Three months ended						Nine months ended
				September 30						September 30
In millions, except per share data				2011			2010			2011			2010
Basic
	Net income from continuing operations		$	834		$	775		$	2,578		$	2,204
	Less:
		Net income (loss) attributable to noncontrolling interests		4			2			(2)			(12)
		Dividends distributed to common shareholders		183			53			419			151
		Dividends distributed to preferred shareholders		4			4			32			122
		Dividends distributed to nonvested restricted shares		1						2
		Preferred stock discount accretion and redemptions					3			1			254
	Undistributed net income from continuing operations		$	642		$	713		$	2,126		$	1,689
	Undistributed net income from discontinued operations						328						373
	Undistributed net income		$	642		$	1,041		$	2,126		$	2,062
	Percentage of undistributed income allocated to common shares			99.55	%		99.63	%		99.60	%		99.64	%
Undistributed income from continuing operations allocated to common shares			$	639		$	709		$	2,118		$	1,681
		Plus: common dividends		183			53			419			151
Net income from continuing operations attributable to basic common shares			$	822		$	762		$	2,537		$	1,832
Net income from discontinued operations attributable to common shares							328						373
	Net income attributable to basic common shares		$	822		$	1,090		$	2,537		$	2,205
	Basic weighted-average common shares outstanding			524			523			524			515
	Basic earnings per common share from continuing operations		$	1.57		$	1.45		$	4.84		$	3.56
	Basic earnings per common share from discontinued operations						.63						.72
	Basic earnings per common share		$	1.57		$	2.08		$	4.84		$	4.28
Diluted
	Net income from continuing operations attributable to basic common shares		$	822		$	762		$	2,537		$	1,832
		Less: BlackRock common stock equivalents		6			3			16			11
	Net income from continuing operations attributable to diluted common shares		$	816		$	759		$	2,521		$	1,821
	Net income from discontinued operations attributable to common shares						328						373
	Net income attributable to diluted common shares		$	816		$	1,087		$	2,521		$	2,194
	Basic weighted-average common shares outstanding			524			523			524			515
	Dilutive potential common shares (a) (b)			2			3			2			3
	Diluted weighted-average common shares outstanding			526			526			526			518
	Diluted earnings per common share from continuing operations		$	1.55		$	1.45		$	4.79		$	3.52
	Diluted earnings per common share from discontinued operations						.62						.72
	Diluted earnings per common share		$	1.55		$	2.07		$	4.79		$	4.24
(a)		Excludes stock options considered to be anti-dilutive		12			13			7			11
(b)		Excludes warrants considered to be anti-dilutive		22			22			22			22