Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.5.0.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2016 and 2015 (in millions, except per share amounts):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,269

 
$
1,230

 
$
2,400

 
$
2,256

Denominator:
 
 
 
 
 
 
 
Weighted average shares
881

 
899

 
883

 
901

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted units
4

 
1

 
3

 
1

Denominator for basic earnings per share
886

 
901

 
887

 
903

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted units
3

 
6

 
4

 
7

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
890

 
908

 
892

 
911

Basic earnings per share
$
1.43

 
$
1.37

 
$
2.71

 
$
2.50

Diluted earnings per share
$
1.43

 
$
1.35

 
$
2.69

 
$
2.48


Diluted earnings per share for the three months ended June 30, 2016 and 2015 excluded the effect of 0.2 and 0.2 million shares of common stock, respectively (0.3 and 0.2 million for the six months ended June 30, 2016 and 2015, respectively) that may be issued upon the exercise of employee stock options, because such effect would be antidilutive.