EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

NOTE 23 - EARNINGS PER SHARE

Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period. Net income available to common stockholders represents net income after preferred stock dividends, accretion of the discount on preferred stock issuances, and gains or losses from any repurchases of preferred stock. Diluted EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during each period, plus potential dilutive shares such as share-based payment awards and warrants using the treasury stock method.


	Year Ended December 31,
(in millions, except share and per-share data)	2020	2019	2018
Numerator (basic and diluted):
Net income	$1,057	$1,791	$1,721
Less: Preferred stock dividends	107	73	29
Net income available to common stockholders	$950	$1,718	$1,692
Denominator:
Weighted-average common shares outstanding - basic	427,062,537	449,731,453	478,822,072
Dilutive common shares: share-based awards	1,095,243	1,482,248	1,608,669
Weighted-average common shares outstanding - diluted	428,157,780	451,213,701	480,430,741
Earnings per common share:
Basic	$2.22	$3.82	$3.54
Diluted(1)	2.22	3.81	3.52

(1) Potential dilutive common shares are excluded from the computation of diluted EPS in the periods where the effect would be antidilutive. Excluded from the computation of diluted EPS were weighted average antidilutive shares totaling 1,338,130 and 783 for the years ended December 31, 2020 and 2019. There were no antidilutive shares to exclude from the calculation for the year ended December 31, 2018.