STI » Topics » Note 13 - Earnings Per Share

This excerpt taken from the STI 10-Q filed May 8, 2009.

Note 7 - Earnings Per Share

 

     Three Months Ended
     

March 31

(In thousands, except per share data)   

        2009        

      

        2008        

Net income/(loss)

   ($815,167)       $290,555  

Series A preferred dividends

   5,000        6,977  

U.S. Treasury preferred dividends

   66,279        -  

Dividends and undistributed earnings allocated to unvested shares

   (11,065)       2,023  
           

Net income/(loss) available to common shareholders

   ($875,381)       $281,555  
           

Average basic common shares

   351,352        346,581  

Effect of dilutive securities:

       

Stock options

   -        557  

Performance and restricted stock

   -        934  
           

Average diluted common shares

   351,352        348,072  
           

Earnings/(loss) per average common share - diluted

   ($2.49)       $0.81  
           

Earnings/(loss) per average common share - basic

   ($2.49)       $0.81  
           
These excerpts taken from the STI 10-K filed Mar 2, 2009.

Earnings per Share

Basic earnings per share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each period. Diluted earnings per share are based on the weighted average number of common shares outstanding during each period, plus common share equivalents calculated for stock options and performance restricted stock outstanding using the treasury stock method.

Note 13 - Earnings Per Share

Net income is the same in the calculation of basic and diluted EPS. Equivalent shares of 33.5 million and 9.1 million related to common stock options and common stock warrants for the years ended December 31, 2008 and 2007, respectively, were excluded from the computations of diluted EPS because they would have been antidilutive. There were no antidilutive shares for the year ending December 31, 2006. A reconciliation of the difference between average basic common shares outstanding and average diluted common shares outstanding for the twelve months ended December 31 is included in the following table:

 

(In thousands, except per share data)    2008        2007        2006    

Net income

   $795,774      $1,634,015      $2,117,471  

Series A preferred dividends

   22,255      30,275      7,729  

U.S. Treasury preferred dividends

   26,579      -      -  
                    

Net income available to common shareholders

   $746,940      $1,603,740      $2,109,742  
                    

Average basic common shares

   348,919      349,346      359,413  

Effect of dilutive securities:

              

Stock options

   190      2,396      2,261  

Performance and restricted stock

   1,074      946      1,128  
                    

Average diluted common shares

   350,183      352,688      362,802  
                    

Earnings per average common share - diluted

   $2.13      $4.55      $5.82  
                    

Earnings per average common share - basic

   $2.14      $4.59      $5.87  
                    

 

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SUNTRUST BANKS, INC.

Notes to Consolidated Financial Statements (Continued)

 

Note 13 - Earnings Per Share

SIZE="2">Net income is the same in the calculation of basic and diluted EPS. Equivalent shares of 33.5 million and 9.1 million related to common stock options and common stock warrants for the years ended December 31, 2008 and 2007,
respectively, were excluded from the computations of diluted EPS because they would have been antidilutive. There were no antidilutive shares for the year ending December 31, 2006. A reconciliation of the difference between average basic common
shares outstanding and average diluted common shares outstanding for the twelve months ended December 31 is included in the following table:

 






























































































































































































































































































(In thousands, except per share data)  2008    2007    2006  

Net income

  $795,774   $1,634,015   $2,117,471 

Series A preferred dividends

  22,255   30,275   7,729 

U.S. Treasury preferred dividends

  26,579   -   - 
            

Net income available to common shareholders

  $746,940   $1,603,740   $2,109,742 
            

Average basic common shares

  348,919   349,346   359,413 

Effect of dilutive securities:

         

Stock options

  190   2,396   2,261 

Performance and restricted stock

  1,074   946   1,128 
            

Average diluted common shares

  350,183   352,688   362,802 
            

Earnings per average common share - diluted

  $2.13   $4.55   $5.82 
            

Earnings per average common share - basic

  $2.14   $4.59   $5.87 
            

 


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SUNTRUST BANKS, INC.

ALIGN="center">Notes to Consolidated Financial Statements (Continued)

 


This excerpt taken from the STI 10-Q filed Nov 7, 2008.

Note 7 – Earnings Per Share

 

     Three Months Ended
September 30
   Nine Months Ended
September 30
(In thousands, except per share data)    2008    2007    2008    2007

Net income

   $312,444    $420,164    $1,143,361    $1,622,891

Preferred stock dividends

   5,111    7,526    17,200    22,408
                   

Net income available to common shareholders

   $307,333    $412,638    $1,126,161    $1,600,483
                   

Average basic common shares

   349,916    346,150    348,409    350,501

Effect of dilutive securities:

           

Stock options

   25    2,475    252    2,786

Performance and restricted stock

   1,029    967    952    957
                   

Average diluted common shares

   350,970    349,592    349,613    354,244
                   

Earnings per average common share—diluted

   $0.88    $1.18    $3.22    $4.52
                   

Earnings per average common share—basic

   $0.88    $1.19    $3.23    $4.57
                   
This excerpt taken from the STI 10-Q filed Aug 7, 2008.

Note 7-Earnings Per Share

 

     Three Months Ended
June 30
   Six Months Ended
June 30
(In thousands, except per share data)    2008    2007    2008    2007

Net income

   $540,362    $681,431    $830,917    $1,202,727

Preferred stock dividends

   5,112    7,519    12,089    14,882
                   

Net income available to common shareholders

   $535,250    $673,912    $818,828    $1,187,845
                   

Average basic common shares

   348,714    351,987    347,647    352,713

Effect of dilutive securities:

           

Stock options

   176    3,056    366    2,944

Performance and restricted stock

   893    965    914    951
                   

Average diluted common shares

   349,783    356,008    348,927    356,608
                   

Earnings per average common share - diluted

   $1.53    $1.89    $2.35    $3.33
                   

Earnings per average common share - basic

   $1.53    $1.91    $2.36    $3.37
                   
This excerpt taken from the STI 10-Q filed May 8, 2008.

Note 7-Earnings Per Share

 

     Three Months Ended
     March 31
(In thousands, except per share data)    2008    2007

Diluted

     

Net income

   $290,555      $521,296  

Preferred stock dividends

   6,977      7,363  
         

Net income available to common shareholders

   $283,578      $513,933  
         

Average basic common shares

   346,581      353,448  

Effect of dilutive securities:

     

Stock options

   557      2,830  

Performance and restricted stock

   934      936  
         

Average diluted common shares

   348,072      357,214  
         

Earnings per average common share - diluted

   $0.81      $1.44  
         

Basic

     

Net income

       $290,555          $521,296  

Preferred stock dividends

   6,977      7,363  
         

Net income available to common shareholders

       $283,578          $513,933  
         

Average basic common shares

   346,581      353,448  
         

Earnings per average common share - basic

   $0.82      $1.45  
         
These excerpts taken from the STI 10-K filed Feb 20, 2008.

Note 13 – Earnings Per Share

Net income is the same in the calculation of basic and diluted EPS. Equivalent shares of 9.1 million and 0.3 million related to stock options for the years ended December 31, 2007 and 2005, respectively, were excluded from the computations of diluted EPS because they would have been antidilutive. There were no antidilutive shares for the year ending December 31, 2006. A reconciliation of the difference between average basic common shares outstanding and average diluted common shares outstanding for the twelve months ended December 31 is included in the following table:

 

(In thousands, except per share data)    2007    2006    2005

Diluted

        

Net income

   $1,634,015    $2,117,471    $1,987,239

Preferred stock dividends

   30,275    7,729    -
              

Net income available to common shareholders

   $1,603,740    $2,109,742    $1,987,239
              

Average basic common shares

   349,346    359,413    359,066

Effect of dilutive securities:

        

Stock options

   2,396    2,261    2,723

Performance and restricted stock

   946    1,128    1,665
              

Average diluted common shares

   352,688    362,802    363,454
              

Earnings per average common share - diluted

   $4.55    $5.82    $5.47
              

Basic

        

Net income

   $1,634,015    $2,117,471    $1,987,239

Preferred stock dividends

   30,275    7,729    -
              

Net income available to common shareholders

   $1,603,740    $2,109,742    $1,987,239
              

Average basic common shares

   349,346    359,413    359,066
              

Earnings per average common share - basic

   $4.59    $5.87    $5.53
              

 

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SUNTRUST BANKS, INC.

Notes to Consolidated Financial Statements (Continued)

 

Note 13 – Earnings Per Share

STYLE="margin-top:12px;margin-bottom:0px">Net income is the same in the calculation of basic and diluted EPS. Equivalent shares of 9.1 million and 0.3 million related to stock options for the years
ended December 31, 2007 and 2005, respectively, were excluded from the computations of diluted EPS because they would have been antidilutive. There were no antidilutive shares for the year ending December 31, 2006. A reconciliation of the
difference between average basic common shares outstanding and average diluted common shares outstanding for the twelve months ended December 31 is included in the following table:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 




























































































































































































































(In thousands, except per share data)  2007  2006  2005

Diluted

      

Net income

  $1,634,015  $2,117,471  $1,987,239

Preferred stock dividends

  30,275  7,729  -
         

Net income available to common shareholders

  $1,603,740  $2,109,742  $1,987,239
         

Average basic common shares

  349,346  359,413  359,066

Effect of dilutive securities:

      

Stock options

  2,396  2,261  2,723

Performance and restricted stock

  946  1,128  1,665
         

Average diluted common shares

  352,688  362,802  363,454
         

Earnings per average common share - diluted

  $4.55  $5.82  $5.47
         

Basic

      

Net income

  $1,634,015  $2,117,471  $1,987,239

Preferred stock dividends

  30,275  7,729  -
         

Net income available to common shareholders

  $1,603,740  $2,109,742  $1,987,239
         

Average basic common shares

  349,346  359,413  359,066
         

Earnings per average common share - basic

  $4.59  $5.87  $5.53
         

 


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SUNTRUST BANKS, INC.

ALIGN="center">Notes to Consolidated Financial Statements (Continued)

 


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