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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2022
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) |  |  |  |  |  | 2022 |  | 2021 |  |  |  |
Income from continuing operations, net of tax |  |  |  |  |  | $ | 2,403 |  |  | $ | 3,327 |  |  |  |  |
Income (loss) from discontinued operations, net of tax |  |  |  |  |  | 0 |  |  | (2) |  |  |  |  |
Net income |  |  |  |  |  | 2,403 |  |  | 3,325 |  |  |  |  |
Dividends and undistributed earnings allocated to participating securities |  |  |  |  |  | (28) |  |  | (28) |  |  |  |  |
Preferred stock dividends |  |  |  |  |  | (57) |  |  | (61) |  |  |  |  |
Net income available to common stockholders |  |  |  |  |  | $ | 2,318 |  |  | $ | 3,236 |  |  |  |  |
Total weighted-average basic common shares outstanding |  |  |  |  |  | 410.4 |  |  | 458.6 |  |  |  |  |
Effect of dilutive securities:(1) |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  |  |  |  | 0.5 |  |  | 0.8 |  |  |  |  |
Other contingently issuable shares |  |  |  |  |  | 1.3 |  |  | 0.7 |  |  |  |  |
Total effect of dilutive securities |  |  |  |  |  | 1.8 |  |  | 1.5 |  |  |  |  |
Total weighted-average diluted common shares outstanding |  |  |  |  |  | 412.2 |  |  | 460.1 |  |  |  |  |
Basic earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  |  |  |  |  | $ | 5.65 |  |  | $ | 7.06 |  |  |  |  |
Net income per basic common share |  |  |  |  |  | $ | 5.65 |  |  | $ | 7.06 |  |  |  |  |
Diluted earnings per common share:(1) |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  |  |  |  |  | $ | 5.62 |  |  | $ | 7.03 |  |  |  |  |
Net income per diluted common share |  |  |  |  |  | $ | 5.62 |  |  | $ | 7.03 |  |  |  |  |
__________ (1)Excluded from the computation of diluted earnings per share were awards and stock options that would be anti-dilutive. There were no anti-dilutive awards or stock options for the three months ended March 31, 2022. Awards of 103 thousand shares for the three months ended March 31, 2021 were excluded from the computation of diluted earnings per share.

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