Earnings Per Common Share

9 Months Ended

Sep. 30, 2020

3. EARNINGS PER COMMON SHARE


Computation of Basic and Diluted Earnings per Common Share
	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions, except for per share data)	2020		2019		2020		2019
Earnings

Net income	$	459	$	535	$	1,200	$	1,537
Less: Preferred stock dividends	6		11		16		16




Net income available to common stockholders	$	453	$	524	$	1,184	$	1,521


Shares
Weighted average common shares outstanding, basic	358.3		361.4		358.3		361.0
Dilutive effect of warrants [1]	—		—		—		0.7
Dilutive effect of stock-based awards under compensation plans	2.2		4.0		2.0		3.4
Weighted average common shares outstanding and dilutive potential common shares	360.5		365.4		360.3		365.1
Net income available to common stockholders per common share



Basic	$	1.26	$	1.45	$	3.30	$	4.21






Diluted	$	1.26	$	1.43	$	3.29	$	4.17

[1] On June 26, 2019, the Capital Purchase Program warrants issued in 2009 expired.