Wells Fargo 2010 Annual Report Download - page 213

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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 21: Earnings Per Common Share
Year ended December 31,
(in millions, except per share amounts) 2010
2009
2008
Wells Fargo net income $ 12,362
12,275
2,655
Less: Preferred stock dividends and accretion and other (1) 730
4,285
286
Wells Fargo net income applicable to common stock (numerator) $ 11,632
7,990
2,369
Earnings per common share
Average common shares outstanding (denominator) 5,226.8
4,545.2
3,378.1
Per share $ 2.23
1.76
0.70
Diluted earnings per common share
Average common shares outstanding 5,226.8
4,545.2
3,378.1
Add:
Stock Options 28.3
17.2
13.1
Restricted share rights 8.0
0.3
0.1
Diluted average common shares outstanding (denominator) 5,263.1
4,562.7
3,391.3
Per share $ 2.21
1.75
0.70
(1) Includes Series J, K and L preferred stock dividends of $737 million, $804 million and $67 million for the year ended 2010, 2009 and 2008, respectively. Also includes
$3.5 billion and $219 million in 2009 and 2008, respectively, for Series D Preferred Stock, which was redeemed in 2009. In conjunction with the redemption, we accelerated
accretion of the remaining discount of $1.9 billion. See Note 17 for additional information.
The following table presents the outstanding options and
warrants to purchase shares of common stock that were anti-
dilutive (the exercise price was higher than the weighted-average
market price), and therefore not included in the calculation of
diluted earnings per common share.
Weighted-
average shares
Year ended December 31,
(in millions) 2010
2009
2008
Options 212.1
247.2
169.3
Warrants 66.9
110.3
25.4
211