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RF » Topics » NOTE 14 - EARNINGS PER COMMON SHARE

This excerpt taken from the RF 10-Q filed Jun 9, 2009.

NOTE 2—Earnings per Common Share

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:

 

     Three Months Ended
March 31
(In millions, except per share amounts)        2009              2008    

Numerator:

      

Net income

    $ 77      $ 337

Preferred stock dividends

      (51 )      —  
               

Net income available to common shareholders

    $ 26      $ 337
               

Denominator:

      

Weighted-average common shares outstanding—basic

      693        695

Common stock equivalents

      1        1
               

Weighted-average common shares outstanding—diluted

      694        696
               

Earnings per common share:

      

Basic

    $ 0.04      $ 0.48

Diluted

      0.04        0.48

The effect from the assumed exercise of 52.6 million and 53.3 million stock options for the three months ended March 31, 2009 and 2008, respectively, was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.

 

7

Table of Contents
This excerpt taken from the RF 10-Q filed May 13, 2009.

NOTE 2—Earnings per Common Share

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:

 

     Three Months Ended
March 31
(In millions, except per share amounts)        2009              2008    

Numerator:

      

Net income

    $ 77      $ 337

Preferred stock dividends

      (51 )      —  
               

Net income available to common shareholders

    $ 26      $ 337
               

Denominator:

      

Weighted-average common shares outstanding—basic

      693        695

Common stock equivalents

      1        1
               

Weighted-average common shares outstanding—diluted

      694        696
               

Earnings per common share:

      

Basic

    $ 0.04      $ 0.48

Diluted

      0.04        0.48

The effect from the assumed exercise of 52.6 million and 53.3 million stock options for the three months ended March 31, 2009 and 2008, respectively, was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.

 

9

Table of Contents
This excerpt taken from the RF 10-Q filed May 11, 2009.

NOTE 2—Earnings per Common Share

The following table sets forth the computation of basic earnings per common share and diluted earnings per common share:

 

     Three Months Ended
March 31
(In millions, except per share amounts)        2009              2008    

Numerator:

      

Net income

    $ 77      $ 337

Preferred stock dividends

      (51 )      —  
               

Net income available to common shareholders

    $ 26      $ 337
               

Denominator:

      

Weighted-average common shares outstanding—basic

      693        695

Common stock equivalents

      1        1
               

Weighted-average common shares outstanding—diluted

      694        696
               

Earnings per common share:

      

Basic

    $ 0.04      $ 0.48

Diluted

      0.04        0.48

The effect from the assumed exercise of 52.6 million and 53.3 million stock options for the three months ended March 31, 2009 and 2008, respectively, was not included in the above computations of diluted earnings per common share because such amounts would have had an antidilutive effect on earnings per common share.

 

9

Table of Contents
This excerpt taken from the RF 8-K filed Jan 12, 2007.

NOTE 14 — EARNINGS PER COMMON SHARE

The following table sets forth the computation of earnings per common share and diluted earnings per common share for the years ended December 31:

 

 

(Dollars in thousands)

    2005    2004    2003

EARNINGS PER COMMON SHARE COMPUTATION:

         

Numerator:

         

Net income

    $ 725,705    $ 623,498    $ 626,121

Denominator:

         

Weighted-average common shares outstanding

      350,130      352,533      350,237

Shares issuable under deferred compensation arrangements

      572      151      -0-
                    

Weighted-average common shares outstanding — basic

      350,702      352,684      350,237

Earnings per common share

    $ 2.07    $ 1.77    $ 1.79

DILUTED EARNINGS PER COMMON SHARE COMPUTATION:

         

Numerator:

         

Net income

    $ 725,705    $ 623,498    $ 626,121

Denominator:

         

Weighted-average common shares outstanding

      350,130      352,533      350,237

Shares issuable under deferred compensation arrangements

      572      151      -0-

Dilutive effect of stock options and restricted stock

      4,852      5,268      4,071
                    

Weighted-average common shares outstanding — diluted

      355,554      357,952      354,308

Diluted earnings per common share

    $ 2.04    $ 1.74    $ 1.77

 

 

The effect from assumed exercise of 918,000, 960,000 and 2.8 million stock options was not included in the above computation of diluted earnings per common share for 2005, 2004 and 2003, respectively, because such amounts would have had an antidilutive effect on earnings per share.

EXCERPTS ON THIS PAGE:

10-Q
Jun 9, 2009
10-Q
May 13, 2009
10-Q
May 11, 2009
8-K
Jan 12, 2007

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