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Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Share
The following table presents the computation of basic and diluted earnings per common share for the periods indicated:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in millions, except per share amounts)
2012
 
2011
 
2012
 
2011
Net income
$
674

 
$
555

 
$
1,591

 
$
1,539

Less:
 
 
 
 
 
 
 
Preferred stock dividends(1)
(15
)
 
(6
)
 
(29
)
 
(13
)
Dividends and undistributed earnings allocated to participating securities(2)
(5
)
 
(6
)
 
(11
)
 
(15
)
Net income available to common shareholders
$
654

 
$
543

 
$
1,551

 
$
1,511

 
 
 
 
 
 
 
 
Average common shares outstanding (in thousands):
 
 
 
 
 
 
 
Basic average common shares
472,355

 
490,840

 
479,536

 
495,015

Effect of dilutive securities: common stock options and common stock awards
7,655

 
3,940

 
6,277

 
3,402

Diluted average common shares
480,010

 
494,780

 
485,813

 
498,417

Anti-dilutive securities(3)
5,443

 
3,636

 
5,613

 
2,589

 
 
 
 
 
 
 
 
Earnings per Common Share:
 
 
 
 
 
 
 
Basic
$
1.39

 
$
1.11

 
$
3.23

 
$
3.05

Diluted(4)
1.36

 
1.10

 
3.19

 
3.03

 
 
 
 
(1) 
Three and nine months ended September 30, 2012 included $8 million related to Series C preferred stock issued in August 2012. Remaining amounts for 2012 periods, and amounts for three and nine months ended September 30, 2011, related to Series A preferred stock, which was redeemed on October 4, 2012.
(2) 
Represented the portion of net income available to common equity allocated to participating securities; participating securities, composed of unvested restricted stock and director stock, have non-forfeitable rights to dividends during the vesting period on a basis equivalent to dividends paid to common shareholders.
(3) 
Represented common stock options and other equity-based awards outstanding, but not included in the computation of diluted average shares because their effect was anti-dilutive.
(4) 
Calculations reflect allocation of earnings to participating securities using the two-class method, as this computation is more dilutive than the calculation using the treasury stock method.