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Earnings Per Common Share (EPS) (Tables) | 9 Months Ended
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Sep. 30, 2015
Earnings Per Share Reconciliation [Abstract] |
Computation of basic and diluted EPS | EPS The computations of basic and diluted EPS were as follows:
|  |  |  |  |  | Three Months Ended |  | Nine Months Ended
|  |  |  |  |  | September 30, |  | September 30,
(Millions, except per share amounts) |  | 2015 |  |  | 2014 |  | 2015 |  |  | 2014
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
| Basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
|  | Net income |  | $ | 1,266 |  | $ | 1,477 |  | $ | 4,264 |  | $ | 4,438
|  | Preferred dividends |  |  | (22) |  |  | ― |  |  | (42) |  |  | ―
|  | Net income available to common shareholders |  |  | 1,244 |  |  | 1,477 |  |  | 4,222 |  |  | 4,438
|  | Earnings allocated to participating share awards(a) |  |  | (10) |  |  | (11) |  |  | (32) |  |  | (35)
|  | Net income attributable to common shareholders |  | $ | 1,234 |  | $ | 1,466 |  | $ | 4,190 |  | $ | 4,403
Denominator: (a) |  |  |  |  |  |  |  |  |  |  |  |
| Basic: Weighted-average common stock |  |  | 994 |  |  | 1,041 |  |  | 1,007 |  |  | 1,051
| Add: Weighted-average stock options (b) |  |  | 3 |  |  | 6 |  |  | 4 |  |  | 6
| Diluted |  |  | 997 |  |  | 1,047 |  |  | 1,011 |  |  | 1,057
Basic EPS |  | $ | 1.24 |  | $ | 1.41 |  | $ | 4.16 |  | $ | 4.19
Diluted EPS |  | $ | 1.24 |  | $ | 1.40 |  | $ | 4.15 |  | $ | 4.17
The Company’s unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributa ble to participating securities. The related participating securities are similarly excluded from the denominator. The dilutive effect of unexe rcised stock options excludes from the computation of EPS 0.6 million and 0.2 million of options for the three months ended September 30, 2015 and 2014, respectively, and 0.5 million and 0.2 million of options for the nine months ended September 30, 2015 and 2014, respectively, because inclusion of the options would have been anti-dilutive.
Perpetual Fixed Floating Rate Non Cumulative Preferred Shares | The Company has the following perpetual Fixed Rate/Floating Rate Noncumulative Preferred Share series issued and outstandi ng as of September 3 0, 2015:
|  | Series B |  | Series C
Issuance date |  | November 10, 2014 |  | March 2, 2015
Securities issued |  | 750 Preferred Shares; represented by 750,000 depositary shares |  | 850 Preferred Shares; represented by 850,000 depositary shares
Aggregate liquidation preference |  | $750 million |  | $850 million
Fixed dividend rate per annum |  | 5.20% |  | 4.90%
Semi-annual fixed dividend payment dates |  | Beginning May 15, 2015 |  | Beginning September 15, 2015
Floating dividend rate per annum |  | 3 month LIBOR+ 3.428% |  | 3 month LIBOR+ 3.285%
Quarterly floating dividend payment dates |  | Beginning February 15, 2020 |  | Beginning June 15, 2020
Fixed to floating rate conversion date(a) |  | November 15, 2019 |  | March 15, 2020
The date on which dividends convert from a fixed rate calculation to a floating rate calculation.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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