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Common and Preferred Shares and Warrants | 12 Months Ended
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Dec. 31, 2017
Disclosure Text Block Abstract |
Common And Preferred Shares And Warrants [Text Block] | NOTE 17 Common and Preferred Shares The following table shows authorized shares and provides a reconciliation of common shares issued and outstanding for the years ended December 31:
(Millions, except where indicated) |  | 2017 |  | 2016 |  | 2015
Common shares authorized (billions)(a) |  | 3.6 |  | 3.6 |  | 3.6
Shares issued and outstanding at beginning of year |  | 904 |  | 969 |  | 1,023
Repurchases of common shares |  | (50) |  | (70) |  | (59)
Other, primarily stock option exercises and restricted stock awards granted |  | 5 |  | 5 |  | 5
Shares issued and outstanding as of December 31 |  | 859 |  | 904 |  | 969
Of the common shares authorized but unissued as of December 31, 2017, approximately 29 million shares are reserved for issuance under employee stock and employee benefit plans. On September 26, 2016, the Board of Directors authorized the repurchase of 150 million of common shares over time in accordance with the Company’s capital distribution plans submitted to the Board of Governors of the Federal Reserve System (the Federal Reserve) and subject to market conditions. This authorizati on replaces all prior repurchase authorizations. During 2017, 2016 and 2015, the Company repurchased 50 million common shares with a cost basis of $4.3 billion, 70 million common shares with a cost basis of $4.4 bill ion, and 59 million common shares with a cost basis of $4.5 billion, respectively. The cost basis includes commissions paid of $2.9 million, $1.2 million and $1.1 million in 2017, 2016 and 2015, respectively. As of December 31, 2017, the Company had approximately 85 million common shares remaining under the Board share repurchase authorization. Such authorization does not have an expiration date. Common shares are generally retired by the Company upon repurchase (except for 2.9 million, 3.0 million and 3.0 million shares held as treasury shares as of December 31, 2017, 2016 and 2015, respectively); retired common shares and treasury shares are excluded from the shares outstanding in the t able above. The treasury shares, with a cost basis of $217 million, $197 million and $242 million as of December 31, 2017, 2016 and 2015, respectively, are included as a reduction to additional paid-in capital in shar eholders’ equity on the Consolidated Balance Sheets. PREFERRED SHARES The Board of Directors is authorized to permit the Company to issue up to 20 million Preferred Shares at a par value of $1.662/3 without further shareholder approval. The Company has the following perpetual Fixed Rate/Floating Rate Noncumulative Preferred Share series issued and outstanding as of December 31, 2017:
|  | 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. In the event of the voluntary or involuntary liquidation, dissolution or winding up of the Company, the preferred stock then outstanding takes precedence over the Company’s common stock for the payment of dividends and the distribution of assets out of funds legally available for distribution to shareholders. Each outstanding series of Preferred Shares has a liquidation price of $1 million per Preferred Sha re, plus any accrued but unpaid dividends. The Company may redeem these Preferred Shares at $1 million per Preferred Share (equivalent to $1,000 per depositary share) plus any declared but unpaid dividends in whole or in part, from time to time, on any div idend payment date on or after the respective fixed to floating rate conversion date, or in whole, but not in part, within 90 days of certain bank regulatory changes. There were no warrants issued and outstanding as of December 31, 2017, 2016 and 2015.

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- Definition Disclosures related to the Company's activity related to its common and preferred shares and warrants, including information about share repurchase authorization, treasury shares, including cost basis, common shares authorized and a reconciliation of common shares issued and outstanding, common stock and preferred stock issuances for periods presented, and subsequent repurchases. + References No definition available. + Details
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