Wells Fargo 2015 Annual Report Download - page 256

Note 22: Earnings Per Common Share
Table 22.1 shows earnings per common share and diluted
earnings per common share and reconciles the numerator and
denominator of both earnings per common share calculations.
See Note 1 (Summary of Significant Accounting Policies) for
Table 22.1: Earnings Per Common Share Calculations
discussion of private share repurchases and the Consolidated
Statement of Changes in Equity and Note 19 (Common Stock
and Stock Plans) for information about stock and options
activity and terms and conditions of warrants.
Year ended December 31,
(in millions, except per share amounts) 2015 2014 2013
Wells Fargo net income $ 22,894 23,057 21,878
Less: Preferred stock dividends and other 1,424 1,236 989
Wells Fargo net income applicable to common stock (numerator) $ 21,470 21,821 20,889
Earnings per common share
Average common shares outstanding (denominator) 5,136.5 5,237.2 5,287.3
Per share $ 4.18 4.17 3.95
Diluted earnings per common share
Average common shares outstanding 5,136.5 5,237.2 5,287.3
Add: Stock options 26.7 32.9 33.1
Restricted share rights 32.8 41.6 44.8
Warrants 13.8 12.7 6.0
Diluted average common shares outstanding (denominator) 5,209.8 5,324.4 5,371.2
Per share $ 4.12 4.10 3.89
Table 22.2 presents the outstanding options 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.
Table 22.2: Outstanding Anti-Dilutive Options
Weighted-average shares
Year ended December 31,
(in millions) 2015 2014 2013
Options 5.7 8.0 11.1
Wells Fargo & Company
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