| Earning Per Common Share |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | (in millions, except per share amounts) | | 2011 | 2010 | 2009 | | Wells Fargo net income | $ | 15,869 | 12,362 | 12,275 | | Less: | Preferred stock dividends and other (1) | | 844 | 730 | 4,285 | | Wells Fargo net income applicable to common stock (numerator) | $ | 15,025 | 11,632 | 7,990 | | Earnings per common share | | | | | | Average common shares outstanding (denominator) | | 5,278.1 | 5,226.8 | 4,545.2 | | Per share | $ | 2.85 | 2.23 | 1.76 | | Diluted earnings per common share | | | | | | Average common shares outstanding | | 5,278.1 | 5,226.8 | 4,545.2 | | Add: | Stock Options | | 24.2 | 28.3 | 17.2 | | | | Restricted share rights | | 21.1 | 8.0 | 0.3 | | Diluted average common shares outstanding (denominator) | | 5,323.4 | 5,263.1 | 4,562.7 | | Per share | $ | 2.82 | 2.21 | 1.75 | | | | | | | | | | | |
- Includes Series J, K and L preferred stock dividends of $844 million, $737 million and $804 million for the year ended 2011, 2010 and 2009, respectively. Also includes $3.5 billion in 2009, 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.
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