Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.6
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2012
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 nine months ended September 30, 2012 and 2011 (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
2012
 
2011
 
2012
 
2011
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
469

 
$
1,072

 
$
2,555

 
$
3,079

Denominator:
 
 
 
 
 
 
 
Weighted average shares
958

 
974

 
959

 
982

Deferred compensation obligations
1

 
1

 
1

 
2

Vested portion of restricted shares
2

 
2

 
2

 
2

Denominator for basic earnings per share
961

 
977

 
962

 
986

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted performance units
3

 
2

 
3

 
3

Restricted stock units
5

 
7

 
5

 
6

Stock option plans
1

 
1

 
1

 
1

Denominator for diluted earnings per share
970

 
987

 
971

 
996

Basic earnings per share
$
0.49

 
$
1.10

 
$
2.66

 
$
3.12

Diluted earnings per share
$
0.48

 
$
1.09

 
$
2.63

 
$
3.09


Diluted earnings per share for the three months ended September 30, 2012 and 2011 exclude the effect of 2.6 and 9.8 million shares of common stock (2.6 and 6.6 million for the nine months ended September 30, 2012 and 2011), respectively, that may be issued upon the exercise of employee stock options, because such effect would be antidilutive.