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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
Earnings Per Common Share |
NOTE 10—EARNINGS PER COMMON SHARE
The following table sets forth the computation of basic and diluted earnings per common share. Table 10.1: Computation of Basic and Diluted Earnings per Common Share
|  | Three Months Ended March 31,
(Dollars and shares in millions, except per share data) |  | 2020 |  | 2019
Income (loss) from continuing operations, net of tax |  | $ | (1,340 | ) |  | $ | 1,410 |
Income from discontinued operations, net of tax |  | 0 |  |  | 2 |
Net income (loss) |  | (1,340 | ) |  | 1,412 |
Dividends and undistributed earnings allocated to participating securities |  | (3 | ) |  | (12 | )
Preferred stock dividends |  | (55 | ) |  | (52 | )
Issuance cost for redeemed preferred stock |  | (22 | ) |  | 0 |
Net income (loss) available to common stockholders |  | $ | (1,420 | ) |  | $ | 1,348 |
Total weighted-average basic shares outstanding |  | 457.6 |  |  | 469.4 |
Effect of dilutive securities:(1) |  |  |  |
Stock options |  | 0.0 |  |  | 1.1 |
Other contingently issuable shares |  | 0.0 |  |  | 1.1 |
Total effect of dilutive securities |  | 0.0 |  |  | 2.2 |
Total weighted-average diluted shares outstanding |  | 457.6 |  |  | 471.6 |
Basic earnings per common share: |  |  |  |
Net income (loss) from continuing operations |  | $ | (3.10 | ) |  | $ | 2.87 |
Net income (loss) per basic common share |  | $ | (3.10 | ) |  | $ | 2.87 |
Diluted earnings per common share:(1) |  |  |  |
Net income (loss) from continuing operations |  | $ | (3.10 | ) |  | $ | 2.86 |
Net income (loss) per diluted common share |  | $ | (3.10 | ) |  | $ | 2.86 |
__________ (1) In periods of net loss, dilutive securities are excluded as their inclusion would have an anti-dilutive effect. Accordingly, awards of 1.6 million shares and options of 2.8 million shares with an exercise price ranging from $36.55 to $86.34 were excluded for the three months ended March 31, 2020. For the three months ended March 31, 2019, 275 thousand shares related to options with an exercise price of $86.34 were excluded from the computation of diluted earnings per share, because their inclusion would be anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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