WELLS FARGO & COMPANY/MN | 2013 | FY | 3


Note 22: Earnings Per Common Share       

 

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. See Note 1 for discussion of private share repurchases and the Consolidated Statement of Changes in Equity and Note 19 for information about stock and options activity and terms and conditions of warrants.

          
       Year ended December 31,
(in millions, except per share amounts) 201320122011
Wells Fargo net income$ 21,878 18,897 15,869
Less:Preferred stock dividends and other  989 898 844
Wells Fargo net income applicable to common stock (numerator)$ 20,889 17,999 15,025
Earnings per common share    
Average common shares outstanding (denominator)  5,287.3 5,287.6 5,278.1
Per share$ 3.95 3.40 2.85
Diluted earnings per common share    
Average common shares outstanding  5,287.3 5,287.6 5,278.1
Add: Stock Options  33.1 27.5 24.2
  Restricted share rights  44.8 36.4 21.1
  Warrants  6.0 - -
Diluted average common shares outstanding (denominator)  5,371.2 5,351.5 5,323.4
Per share $ 3.89 3.36 2.82
          

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)201320122011
Options 11.1 56.4 198.8
Warrants - 39.2 39.4
    
    

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