Wells Fargo 2006 Annual Report Download - page 101

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99
(in millions, except per share amounts) Year ended December 31,
2006 2005 2004
Net income (numerator) $ 8,482 $ 7,671 $ 7,014
EARNINGS PER COMMON SHARE
Average common shares outstanding (denominator) 3,368.3 3,372.5 3,384.4
Per share $2.52 $ 2.27 $ 2.07
DILUTED EARNINGS PER COMMON SHARE
Average common shares outstanding 3,368.3 3,372.5 3,384.4
Add: Stock options 41.7 37.8 41.5
Restricted share rights 0.1 0.6 0.8
Diluted average common shares outstanding (denominator) 3,410.1 3,410.9 3,426.7
Per share $2.49 $ 2.25 $ 2.05
The table below shows earnings per common share
and diluted earnings per common share and reconciles
the numerator and denominator of both earnings per
common share calculations.
Note 17: Earnings Per Common Share
At December 31, 2006, 2005 and 2004, options to
purchase 6.7 million, 9.7 million and 6.7 million shares,
respectively, were outstanding but not included in the
calculation of diluted earnings per common share because
the exercise price was higher than the market price, and
therefore they were antidilutive.