PNC Bank 2000 Annual Report Download - page 85

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82
NO T E 2 3 EA R N I N G S PE R SH A R E
The following table sets forth basic and diluted earnings per share calculations.
Year ended December 31 - in millions, except share and per share data 2000 1999 1998
CA L C U L AT I O N O F BA S I C EA R N I N G S PE R CO M M O N SH A R E
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,214 $1,202 $1,080
Less: Preferred dividends declared . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 19 19
Income from continuing operations applicable to basic earnings
per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,195 $1,183 $1,061
Basic weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . . . 289,958 296,886 300,761
Basic Earnings Per Common Share from Continuing Operations . . . . . . . . . . . . . . . . . $4.12 $3.98 $3.53
Income from discontinued operations applicable to basic earnings
per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $65 $62 $35
Basic weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . . . 289,958 296,886 300,761
Basic Earnings Per Common Share from Discontinued Operations . . . . . . . . . . . . . . . $.23 $.21 $.11
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,279 $1,264 $1,115
Less: Preferred dividends declared . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 19 19
Net income applicable to basic earnings per common share . . . . . . . . . . . . . . . . . . . . . $1,260 $1,245 $1,096
Basic weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . . . 289,958 296,886 300,761
Basic Earnings Per Common Share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4.35 $4.19 $3.64
CA L C U L AT I O N O F DI L U T E D EA R N I N G S PE R CO M M O N SH A R E
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,214 $1,202 $1,080
Less: Dividends declared on nonconvertible preferred stock Series F . . . . . . . . . . . . . . . 18 18 17
Income from continuing operations applicable to diluted earnings
per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,196 $1,184 $1,063
Basic weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . . . 289,958 296,886 300,761
Weighted-average common shares to be issued using
average market price and assuming:
Conversion of preferred stock Series A and B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 131 148
Conversion of preferred stock Series C and D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 986 1,072 1,145
Conversion of debentures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 24 761
Exercise of stock options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,531 1,529 1,846
Incentive share awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173 383 486
Diluted weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . 292,786 300,025 305,147
Diluted Earnings Per Common Share from Continuing Operations . . . . . . . . . . . . . . . $4.09 $3.94 $3.49
Income from discontinued operations applicable to diluted earnings
per common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $65 $62 $35
Diluted weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . 292,786 300,025 305,147
Diluted Earnings Per Common Share from Discontinued Operations . . . . . . . . . . . . . . $.22 $.21 $.11
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,279 $1,264 $1,115
Less: Dividends declared on nonconvertible preferred stock Series F . . . . . . . . . . . . . . . 18 18 17
Net income applicable to diluted earnings per common share . . . . . . . . . . . . . . . . . . . $1,261 $1,246 $1,098
Diluted weighted-average common shares outstanding (in thousands) . . . . . . . . . . . . . . . 292,786 300,025 305,147
Diluted Earnings Per Common Share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4.31 $4.15 $3.60