Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.4.0.3
EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2016 and 2015 (in millions, except per share amounts):
 
Three Months Ended
March 31,
2016
 
2015
Numerator:
 
 
 
Net income attributable to common shareowners
$
1,131

 
$
1,026

Denominator:
 
 
 
Weighted average shares
885

 
903

Deferred compensation obligations
1

 
1

Vested portion of restricted units
3

 
2

Denominator for basic earnings per share
889

 
906

Effect of dilutive securities:
 
 
 
Restricted units
4

 
6

Stock options
1

 
1

Denominator for diluted earnings per share
894

 
913

Basic earnings per share
$
1.27

 
$
1.13

Diluted earnings per share
$
1.27

 
$
1.12


Diluted earnings per share for the three months ended March 31, 2016 and 2015 excluded the effect of 0.5 and 0.2 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive.