BB&T 2012 Annual Report Download - page 158
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136
Derivatives Credit Risk â Central Clearing Parties
BB&T also clears certain derivatives through central clearing parties that require initial margin collateral, as well as
additional collateral for trades in a net loss position. Initial margin collateral requirements are established by central clearing
parties on varying bases, with such amounts generally designed to offset the risk of non-payment. Initial margin is generally
calculated by applying the maximum loss experienced in value over a specified time horizon to the portfolio of existing
trades. As of December 31, 2012, BB&T had posted $111 million in cash collateral, including initial margin, related to the
clearing of derivatives in an $11 million net loss position. As of December 31, 2011, BB&T had posted $145 million in cash
collateral, including initial margin, related to the clearing of derivatives in a $60 million net loss position. BB&T had no
significant unsecured positions in a gain with central clearing parties at December 31, 2012.
NOTE 20. Computation of EPS
BB&Tâ s basic and diluted EPS calculations are presented in the following table:
Years Ended December 31,
2012 2011 2010
(Dollars in millions, except per share data,
shares in thousands)
Basic EPS:
N
et income available to common shareholders $ 1,916 $ 1,289 $ 816
Weighted average number of common shares 698,739 696,532 692,489
Basic EPS $ 2.74 $ 1.85 $ 1.18
Diluted EPS:
N
et income available
t
o common shareholders $ 1,916 $ 1,289 $ 816
Weighted average number of common shares 698,739 696,532 692,489
Add:
Effect of dilutive outstanding equity-based awards 10,138 8,636 8,550
Weighted average number of diluted common shares 708,877 705,168 701,039
Diluted EPS $ 2.70 $ 1.83 $ 1.16
For the years ended December 31, 2012, 2011 and 2010, the number of anti-dilutive awards was 36.6 million, 40.9 million
and 36.8 million shares, respectively.