Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.5.0.2
EARNINGS PER SHARE
 9 Months Ended
Sep. 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 nine months ended September 30, 2016 and 2015 (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,270

 
$
1,257

 
$
3,670

 
$
3,513

Denominator:
 
 
 
 
 
 
 
Weighted average shares
876

 
893

 
880

 
898

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted units
3

 
1

 
4

 
2

Denominator for basic earnings per share
880

 
895

 
885

 
901

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted units
4

 
7

 
3

 
6

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
885

 
903

 
889

 
908

Basic earnings per share
$
1.44

 
$
1.40

 
$
4.15

 
$
3.90

Diluted earnings per share
$
1.44

 
$
1.39

 
$
4.13

 
$
3.87


Diluted earnings per share for the three months ended September 30, 2016 and 2015 excluded the effect of 0.1 and 0.2 million shares of common stock, respectively (0.2 and 0.2 million for the nine months ended September 30, 2016 and 2015, respectively) that may be issued upon the exercise of employee stock options, because such effect would be antidilutive.